Multiple Choice
Which of the following statements is TRUE? I. It is virtually impossible for a country to be the low-cost producer of all goods and services. II. The benefits of trade depend on absolute advantage, not comparative advantage. III. A country could have a comparative advantage in producing everything.
A) I and II only
B) I only
C) II only
D) III only
Correct Answer:
Verified
Correct Answer:
Verified
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