Multiple Choice
If the opportunity cost of production rises as more of a good is produced,
A) the terms of trade will be independent of opportunity costs
B) the production possibilities curve will be a straight line
C) a country will specialize in producing only those goods in which it has a comparative advantage
D) a country should produce any good in which it has an absolute advantage
E) a country may not specialize completely in the goods in which it has comparative advantage
Correct Answer:

Verified
Correct Answer:
Verified
Q9: Suppose that a nation has an absolute
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
Q15: Which of the following statements about quotas
Q16: International trade based on the concept of
Q17: A tax that is imposed on each
Q18: Once a nation has been producing a
Q19: The United States imposes a quota on