Which Statement Is True

question 171

Multiple Choice

Which statement is true?

• A)Comparative advantage means that total world output will be greatest when each good is produced by the nation that has the highest domestic opportunity cost.
• B)Comparative advantage means that total world output will decline when each good is produced by the nation with the lowest domestic opportunity cost.
• C)Specialization is complete among nations when opportunity costs rise as any given nation produces more of a particular product.
• D)Specialization is less than complete among nations when opportunity costs rise as any given nation produces more of a particular product.

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Definitions:

MICR Numbers

Magnetic Ink Character Recognition numbers; used primarily on checks for the purpose of easy processing by financial institutions.

Magnetic Ink

A type of ink formulated with iron oxide particles for magnetic character recognition applications, commonly used in banking.

Payment Option

Various methods available for making payments, such as cash, credit card, digital wallets, or bank transfers.

Credit Cards

Payment cards issued by financial institutions that allow users to borrow funds for purchases, subject to repayment.