The country with a comparative advantage in production of a good or service is the country with the
A) absolute advantage in production of that good or service.
B) absolute advantage in production of some other good or service.
C) lowest opportunity cost of producing that good or service.
D) ability to produce the larges quantity of that good or service.
Correct Answer:
Verified
Q49: Limiting trade can be accomplished with
A)tariffs.
B)quotas.
C)non-tariff regulatory
Q50: If the opportunity cost of producing a
Q51: A quota will typically
A)increase the price received
Q52: One of the reasons economists approve of
Q53: One of the reasons economists approve of
Q55: One of the reasons economists approve of
Q56: On a supply and demand diagram, a
Q57: A country that is limiting imports of
Q58: Comparative advantage in production of the good
Q59: Which of the following works to limit
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