Multiple Choice
Suppose that a nation has an absolute advantage in the production of all goods.In this instance,it
A) has no incentive to engage in international trade
B) is producing at a point on its production possibilities frontier
C) has no unemployment
D) also has a comparative advantage in the production of those goods
E) should specialize in producing the goods for which it has a lower opportunity cost than other countries
Correct Answer:

Verified
Correct Answer:
Verified
Q4: One reason why there may be a
Q5: If the opportunity cost of a television
Q6: In an Israeli factory,each worker can produce
Q7: A quota is a<br>A)tax imposed on each
Q8: Economists generally oppose trade restrictions such as
Q10: In a Mexican factory,each worker can produce
Q11: Figure 16-3<br>Quantities of goods that can be
Q12: If Country A exports a good to
Q13: Figure 16-2<br>Number of workers needed to produce
Q14: If the opportunity cost of production rises