Multiple Choice
If country X has higher labor productivity in the production of umbrellas than the rest of the world, we would say that country X has a(n) _____ in the production of umbrellas.
A) comparative advantage
B) absolute advantage
C) absolute disadvantage
D) comparative disadvantage
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q38: The table given below shows the
Q39: The table given below shows the
Q40: If a country does not have an
Q41: According to the Mercantilists, governments should:<br>A)subsidize and
Q42: The figure given below shows the production
Q44: In a two-country two-good model, if a
Q45: The table given below shows the
Q46: The table given below shows the
Q47: When Adam Smith presented his theory of
Q48: Consider a two-country, two-commodity model. The