In trade, if a nation has the technology to produce a good with fewest resources (such as Germany's production of snowboards) , it is known as a(n) :
A) absolute advantage.
B) technology advantage.
C) comparative advantage.
D) resource advantage.
Correct Answer:
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Q1: According to the Ricardian principle of comparative
Q3: David Ricardo's model explains trade based on:
A)
Q4: A country's factors of production includes:
A) its
Q5: The Ricardian model focuses on how:
A) countries'
Q6: The Ricardian model focuses on how differences
Q7: Ricardo's theory made a number of assumptions,
Q8: Which of the following is NOT considered
Q9: When a firm in one nation purchases
Q10: Which of the following is the MOST
Q11: Which of the following is NOT a
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