Multiple Choice
A country has a comparative advantage in a good if
A) It can produce more of the good than another country.
B) It can produce a good at a lower opportunity cost relative to another country.
C) It can specialize only in two goods.
D) It also has an absolute advantage in the production of the good.
Correct Answer:
Verified
Correct Answer:
Verified
Q23: If trade is mutually beneficial,then increasing trade<br>A)Increases
Q26: As a result of GATT,tariff rates in
Q39: A quota is<br>A) A limit on the
Q47: Assume Ireland can produce 4 units of
Q70: Assume Belgium can produce 5 units of
Q85: Producers of paper products are most likely
Q97: Free trade benefits the nation as a
Q98: The United States exports more than it
Q99: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5717/.jpg" alt=" Based on the
Q132: When comparing the ratio of trade to