Multiple Choice
An economy is said to have a comparative advantage in the production of a good if it can:
A) produce that good with more resources than another economy.
B) produce that good with a higher opportunity cost than another economy.
C) produce that good outside its production possibilities curve.
D) produce the good at a lower opportunity cost than another economy.
Correct Answer:

Verified
Correct Answer:
Verified
Q20: Capital, labor, and natural resources combine to
Q21: Society can operate on the production possibilities
Q22: Technological improvements will:<br>A) leave the production possibilities
Q23: Use the following to answer question(s): <br>Exhibit:
Q24: Natural resources are resources that occur in
Q26: For a factor of production to be
Q27: The law of increasing opportunity cost says
Q28: When the government provides national defense, it
Q29: If an economy is producing a combination
Q30: Use the following to answer question(s): <br>Exhibit: