A country has an absolute advantage over another in the production of widgets if it can produce
A) widgets using smaller quantities of resources than can the other country.
B) more widgets than can the other country.
C) widgets more efficiently than can the other country.
D) widgets at a lower opportunity cost than can the other country.
Correct Answer:
Verified
Q78: The logic of why international trade increases
Q79: Suppose a country's workers can produce 4
Q80: Suppose a country's workers can produce 4
Q81: A complicating factor in international trade is
Q82: Which of the following is true?
A)A nation
Q84: If a nation does not have an
Q85: Are there impediments to international movement of
Q86: If a nation has an absolute advantage
Q87: What matters most in determining efficient distribution
Q88: David Ricardo discovered that two countries can
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents