Multiple Choice
A country possesses a comparative advantage in the production of a product if
A) the opportunity cost, in terms of the amount of other products that it gives up to produce this product, is lower than it is for its trading partners.
B) it possesses an absolute advantage in the production of this good compared to its trading partners.
C) it is able to produce less of this good per worker than its trading partners.
D) it can produce more of this good per hour than its trading partners.
Correct Answer:

Verified
Correct Answer:
Verified
Q16: Which of the following is true?<br>A)Adam Smith
Q17: Given that Sandy can produce 10 economics
Q18: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3033/.jpg" alt=" The
Q19: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3033/.jpg" alt=" The
Q20: Suppose that Canada can produce 15 timber
Q22: Suppose that Canada can produce 15 units
Q23: Comparative advantage can change over time.
Q24: Given that Sandy can produce 10 economics
Q25: Why did Adam Smith criticize the trade
Q26: The economic philosophy that favors strict limits