A Country Has a Comparative Advantage If It Can Produce

question 143

Multiple Choice

A country has a comparative advantage if it can produce a good or service

• A) at a higher opportunity cost than can other nations.
• B) at a lower opportunity cost than can other nations.
• C) by using less resources than other nations.
• D) that lies outside its production possibilities curve.

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Definitions:

Gilded Age

A term used to describe the late 19th century in the United States, a period marked by rapid economic growth, technological innovation, and ostentatious wealth, often accompanied by widespread social inequalities and corruption.

Mark Twain

An American author and humorist best known for his novels "The Adventures of Tom Sawyer" and its sequel "The Adventures of Huckleberry Finn."

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The movement of populations across the globe, often involving the relocation of individuals or groups from one country to another for reasons such as employment, safety, or socio-economic improvement.

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The worldwide economic arena that allows for the buying, selling, and trading of goods and services across national borders.