Multiple Choice
Suppose the United States can produce 2,000 cars or 2,000 trucks.Japan can produce either 2,000 cars or 1,000 trucks.In terms of car production,we can conclude that
A) Japan has an absolute advantage.
B) The United States has an absolute advantage.
C) The United States has a comparative advantage.
D) Japan has a comparative advantage.
Correct Answer:
Verified
Correct Answer:
Verified
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