If Country a Has a Comparative Advantage in the Production

question 7

Multiple Choice

If Country A has a comparative advantage in the production of oil relative to Country B,then

• A)the opportunity cost of producing oil is higher in Country A than in Country B.
• B)Country A also has an absolute advantage in producing some good other than oil.
• C)Country A also has an absolute advantage in producing oil.
• D)Country A when compared to Country B must have an absolute advantage in producing some good other than oil.
• E)the opportunity cost of producing oil is lower in Country A than in Country B.

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Definitions:

Continuous Improvement

An ongoing effort to improve products, services, or processes by making incremental improvements over time, or sudden improvements all at once.

Cost Savings

Represents the actions that reduce expenses or costs within an organization in order to improve profitability without compromising the quality of products or services.

Cost Overrides

Expenses that exceed the original budget allocations for projects or initiatives.

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