X Has a Comparative Advantage Over Y in Producing a Good

question 2

Multiple Choice

X has a comparative advantage over Y in producing a good if

• A) X can produce more of the good than Y can in a given time period.
• B) X has to trade off more than Y does to produce the good.
• C) X has a lower opportunity cost of producing the good than does Y.
• D) X has a higher opportunity cost of producing the good than does Y.
• E) Y can produce more of the good than X can in a given time period.

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Definitions:

Zhou Jichang

A Chinese painter known for his contributions to the "Hundred Ramas" series, illustrating scenes from Buddhist lore with meticulous detail and vibrant colors.

Confucius

An influential Chinese philosopher and social thinker, living in the 5th century BCE, whose teachings focus on ethics, morality, and social relationships.

Bi Disk

A circular Chinese jade artifact, used in rituals and ceremonies, dating back to the Neolithic period.

Jade

A hard, typically green stone often used in jewelry and decorative arts, especially significant in East Asian and Mesoamerican cultures.