Multiple Choice
If Spain is capable of producing either tapas or soccer balls or some combination of those two products,then:
A) Spain should produce the good it has an absolute advantage in producing.
B) Spain should produce the good it has a comparative advantage in producing.
C) Spain should remain self-sufficient if it can produce both efficiently.
D) Spain should trade only if it possesses the absolute advantage in the production of both goods.
Correct Answer:

Verified
Correct Answer:
Verified
Q84: Which of the following statements about absolute
Q85: Suppose that,given the same number of workers,the
Q86: Economic theory states that losing comparative advantage
Q87: If the opportunity cost of producing corn
Q88: If society were to experience an increase
Q90: Suppose an American worker can make 50
Q91: Tom and Jerry have two tasks to
Q92: Suppose an American worker can make 100
Q93: People often choose to specialize and trade
Q111: Suppose that a worker in Country A