Multiple Choice
A new country is formed in central Africa. It has no absolute advantage in crude oil, diamonds, or wool. However, it does manufacture high-quality bows and arrows for specialized safari adventures. Which of the following statement is true?
A) The new country should try to produce its own crude oil, diamonds, and wool.
B) The new country has a comparative advantage in the production of bows and arrows.
C) The new country has an unqualified advantage in the production of bows and arrows.
D) The new country has a determined advantage in the production of arrows.
E) The new country is engaged in dumping bows and arrows.
Correct Answer:
Verified
Correct Answer:
Verified
Q73: If the Korean government charged tariffs on
Q74: All of the following are ways to
Q75: Selling and shipping raw materials or products
Q76: What are some advantages of licensing as
Q77: When chain of organic coffee shops in
Q79: What types of products did GATT focus
Q80: Forming a joint venture with an existing
Q81: In 1967, several Asian countries banded together
Q82: Soccer to the Masses is interested in
Q83: An import duty has the effect of