Multiple Choice
If Country A has a comparative advantage in the production of oil relative to Country B,then
A) Country A also has an absolute advantage in producing oil.
B) Country A also has an absolute advantage in producing some good other than oil.
C) the opportunity cost of producing oil is higher in Country A than in Country B.
D) the opportunity cost of producing oil is lower in Country A than in Country B.
E) Country A when compared to Country B must have an absolute advantage in producing some good other than oil.
Correct Answer:

Verified
Correct Answer:
Verified
Q116: The diagram below shows the domestic demand
Q117: This table shows how much wine and
Q118: Consider the following information about the production
Q119: The following production possibilities schedule shows the
Q120: Suppose Spain is currently producing 90 units
Q122: Suppose Spain is currently producing 90 units
Q123: Ireland and Japan are assumed to produce
Q124: This table shows how much cotton and
Q125: If two nations want to trade with
Q126: The figure below shows Arcticland's annual production