Multiple Choice
What was the basic insight of the theory of comparative advantage?
A) Efficiency can be achieved by minimizing opportunity costs.
B) Efficiency can be achieved by what a country could less expensively produce than its trading partners.
C) Efficiency is the result of self-sufficiency in all economic inputs.
D) Efficiency results from maximizing the number of a country's trading partners.
Correct Answer:
Verified
Correct Answer:
Verified
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