-A Nation Has a Comparative Advantage in a Good When

question 81

Multiple Choice

-A nation has a comparative advantage in a good when it has a

• A) tariff in place protecting the producers of the good.
• B) lower opportunity cost of producing the good.
• C) higher absolute cost of producing the good.
• D) lower absolute cost of producing the good.
• E) higher opportunity cost of producing the good.

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Definitions:

Negligent

Failure to take proper care in doing something, leading to damage or harm to another person.

Agency

A relationship between two parties, where one, the agent, is authorized to act on behalf of the other, the principal, in legal or business matters.

Modern Firms

Refers to contemporary businesses characterized by innovative practices, technology use, and agile structures.

Foreign Countries

Nations or territories outside one's own country, governed by distinct legal, political, and cultural systems.