Specialization According to Comparative Advantage Means That a Country Is

question 69

Multiple Choice

Specialization according to comparative advantage means that a country is producing the goods:

• A) that it wants to consume.
• B) for which it has a relatively high opportunity cost.
• C) for which it has a relatively low opportunity cost.
• D) that it can produce at zero cost.

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Definitions:

Top 1 Percent

The segment of the population that earns the highest income, often used in discussions of income inequality.

Earners

Individuals or entities that receive income in exchange for providing goods or services, or through investments.

Revenue

The total income generated from the sale of goods or services before any expenses are subtracted.

Federal Government

The national government of a federal state, which shares sovereignty with subnational governments such as states or provinces.