Multiple Choice
What should a country do if it has a comparative advantage in a product?
A) It should import that product.
B) It should export that product.
C) It should keep the product for domestic use since it is relatively inexpensive to produce.
D) It should lower the costs of production until realizing an absolute advantage.
Correct Answer:

Verified
Correct Answer:
Verified
Q17: Figure 3-5<br>These graphs illustrate the production possibilities
Q18: Figure 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt="Figure 3-2
Q19: Figure 3-6<br>These figures illustrate the production possibilities
Q20: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to Table
Q21: Figure 3-3<br>Ice cream and cones are measured
Q23: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to Table
Q24: What are exports?<br>A) limits placed on the
Q25: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to Table
Q26: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7554/.jpg" alt=" -Refer to Table
Q27: How does trade benefit the two parties