Multiple Choice
If Chris can produce a service using fewer resources than Pat would,then Chris
A) has an absolute advantage in producing that service
B) has a comparative advantage in producing that service
C) has both an absolute advantage and a comparative advantage in producing that service
D) is productively efficient
E) cannot have a comparative advantage in producing that service
Correct Answer:
Verified
Correct Answer:
Verified
Q36: Figure 2-10<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3972/.jpg" alt="Figure 2-10
Q37: The system of resource allocation in the
Q38: Maximizing output by following the principle of
Q39: The law of increasing opportunity cost says
Q40: The principle of comparative advantage states that<br>A)
Q42: A society is saving lives (productively)efficiently if<br>A)
Q43: In deciding to produce more agricultural goods
Q44: Which of the following is an example
Q45: The concave shape of the production possibilities
Q46: The production possibilities frontier is useful for