If a nation X can produce both machines and commodities more efficiently than nation Y, then nation X is said to have a(n) ______ over nation Y.
A) comparative advantage
B) comparative disadvantage
C) opportunity cost
D) absolute advantage
E) absolute disadvantage
Correct Answer:
Verified
Q1: A country will have a _ in
Q3: By importing something which is cheaper internationally
Q4: Trade _ the price of the abundant
Q5: In a labor-abundant country, trade would tend
Q6: Latin America's abundant factor of production is:
A)
Q7: If a worker in Chile earns 100
Q8: As of 2013, Latin America has a
Q9: If Brazil is a labor abundant country,
Q10: The effects of trade on the distribution
Q11: Latin American economies tend to be labor
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