Multiple Choice
If one nation is able to produce a good at a lower opportunity cost than another,it has
A) an absolute advantage in that good.
B) a comparative advantage in that good.
C) a productivity advantage in that good.
D) a technological advantage in that good.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The basis for free trade is the
Q2: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3033/.jpg" alt=" The table above
Q3: What did Adam Smith perceive was primarily
Q4: Based on Table 3.1,trade between the United
Q5: Which of the following statements is FALSE?<br>A)Comparative
Q7: A country will gain relatively more from
Q8: If a nation has no absolute advantage,then
Q9: Adam Smith created the theory of comparative
Q10: All individuals and firms in a country
Q11: Free trade may be good for a