Which of the following is an example of absolute advantage?
A) Since Turkey controls the Bosporus Strait,the countries on the Black Sea are completely dependent on it for access to the Mediterranean.
B) India is more efficient at producing cloth than Portugal,but Portugal is more efficient at producing wine than India.
C) Portugal is better at producing wine than producing cloth.
D) The United States makes software more efficiently than any other country.
E) Saudi Arabia has one-fifth of the world's proven oil reserves,but oil refineries in the United States can produce oil more efficiently.
Correct Answer:
Verified
Q11: Which of the following statements about trade
Q12: Which of the following would be expected
Q13: What is trade liberalization?
A)Being tolerant of exporting
Q14: Which of the following is a tariff?
A)A
Q15: Why do countries restrict trade?
A)Some influential interest
Q17: What is protectionism?
A)The creation of alliances to
Q18: Why does division of labor make international
Q19: Which of the following is NOT a
Q20: Which of these is most likely a
Q21: Which of the following international organizations was
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