Multiple Choice
Given two economic systems, A and B, if economy A has a comparative advantage in the production of widgets, then
A) the inputs necessary to produce widgets in economy A cost less than in economy B.
B) economy A must give up less of all other goods to produce widgets than economy B.
C) economy A is less efficient in the production of some goods than economy B.
D) economy A would not benefit from the specialization of production.
Correct Answer:

Verified
Correct Answer:
Verified
Q270: A tariff is a tax on<br>A) all
Q271: Goods that are produced in other countries
Q272: In international trade the term "dumping" means<br>A)
Q273: The contention that specific sensitive domestic technologies
Q274: Specialization in trade will be economically efficient
Q276: The highest tariff rates of the twentieth
Q277: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Using the data
Q278: When a firm sells its good abroad
Q279: A group of nations that grants member
Q280: If protective import-restricting quota are imposed by