A Country Has a Comparative Advantage in Producing a Good

question 172

True/False

A country has a comparative advantage in producing a good when it has the lowest opportunity cost of producing that good.

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Definitions:

Historical Significance

The importance of an event, object, or person in affecting the course or understanding of history, meriting attention and study.

Cotton

A natural fiber harvested from the cotton plant, which became the foundation of a lucrative agricultural industry in the southern United States, largely based on slave labor before the Civil War.

Peculiar Institution

A euphemism for slavery in the antebellum South, emphasizing its distinctive and controversial nature.