Suppose Haiti Does Not Have a Comparative Advantage in the Production

question 281

Multiple Choice

Suppose Haiti does not have a comparative advantage in the production of shirts in 2007. The concept of explains how Haiti could achieve a comparative advantage by 2010.

• A) dynamic comparative advantage
• B) absolute advantage
• C) gains from trade
• D) opportunity costs

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Definitions:

Coverage

The extent to which an insurance policy or legal protection provides financial reimbursement against losses or damages.

Confusion

The state of being perplexed or unclear in mind; may also refer to the legal blending of goods in such a way that they cannot be distinguished for ownership purposes.

Finder

An individual or entity that locates and provides a specific item, person, or service, often for a fee or commission.

Waiver

The voluntary relinquishment or surrender of a known right, claim, or privilege, often documented in written form.