Multiple Choice
The theory that suggested countries would mutually benefit from trade by specializing in export goods they could produce at lower opportunity costs than another country is called
A) marginal utility.
B) labor specialization theory.
C) absolute advantage.
D) comparative advantage.
Correct Answer:

Verified
Correct Answer:
Verified
Q31: (Figure: Production Possibilities) Which statement is NOT
Q32: (Table) Suppose an economy can produce the
Q33: When a country is operating at its
Q34: A country should always produce the items
Q35: Which pair does NOT relate?<br>A) capital -
Q37: The derivation of a production possibilities frontier
Q38: "How goods and services are advertised" is
Q39: (Figure: Interpreting PFF Shifts 4) The graph
Q40: (Figure: Corn and Oil in the United
Q41: (Figure: Determining Production Possibilities) The graph shows