For a Nation to Have a Comparative Advantage in a Good

question 209

Multiple Choice

For a nation to have a comparative advantage in a good it must have:

• A) more resources.
• B) better resources.
• C) a straight- line production possibilities curve.
• D) a lower opportunity cost of producing that good.

---

Definitions:

Protestant Ethic

A concept in sociology that attributes the rise of modern capitalism to Protestant work values, emphasizing hard work, discipline, and frugality.

Capitalism

An economic system characterized by private ownership of the means of production and the creation of goods or services for profit.

Economic Conditions

The state of the economy at a given time, including factors such as inflation rates, unemployment levels, and the overall economic growth or recession.

Opium of the People

A metaphor used by Karl Marx to describe religion's role in pacifying and distracting the masses from their immediate sufferings and injustices, creating false consciousness.