Comparative advantage refers to a country's:
A) Ability to produce a specific good with fewer resources than another country.
B) Monopoly power in the world market for a specific good.
C) Ability to sell a specific good for a higher price than another country.
D) Ability to produce a specific good at a lower opportunity cost than another country.
Correct Answer:
Verified
Q37: Which of the following is true?
A) Large
Q38: The most desired goods and services that
Q39: Consumption possibilities refers to the:
A) Maximum amount
Q40: Specialization and trade benefits:
A) Both rich countries
Q41: Terms of trade refer to:
A) Negotiations made
Q43: If a country has an absolute advantage,it
Q44: Suppose Brazil has a comparative advantage in
Q45: If a country has a lower opportunity
Q46: Suppose Chile has a lower opportunity cost
Q47: Suppose the United States has a lower
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