Trade between countries is only based on absolute advantage.
Correct Answer:
Verified
Q22: Comparative advantage and relative opportunity costs are
Q23: Monopoly is represented by a single seller.
Q24: Arbitrage creates profits but has no effect
Q25: Clearly defined property rights promote the efficient
Q26: First-come, first-serve allocation schemes promote efficiency.
Q27: It is impossible to create a free
Q29: Creative destruction is one of the negative
Q30: Opportunity cost is defined monetary terms.
Q31: In Argentina, agricultural production is directly related
Q32: Agriculture in Argentina became more efficient when
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