When a country has the ability to produce a good or service at a lower opportunity cost than others can,they:
A) have an absolute advantage.
B) have a comparative advantage.
C) are free-traders.
D) should remain self-sufficient.
Correct Answer:
Verified
Q7: When two countries specialize and trade:
A) both
Q9: If England buys hockey sticks from Canada,it
Q11: The Multifibre Arrangement (MFA):
A)was a group of
Q12: If Spain sells soccer balls to the
Q13: International trade affects:
A)prices in different countries.
B)workers in
Q15: Absolute advantage is the ability to produce:
A)more
Q16: If Colombia has a comparative advantage over
Q17: When each country specializes in producing the
Q19: Voluntary exchanges between _ generates surplus.
A) firms
B)
Q19: Both countries can benefit from trade when:
A)at
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