If a Country Has the Comparative Advantage in Producing a Product

question 38

True/False

If a country has the comparative advantage in producing a product, then that country must also have the absolute advantage in producing that product.

---

Definitions:

Population

The entire group of individuals or instances about whom the study is concerned or from which a statistical sample is drawn for analysis.

Sample

A subset of a population used in statistical analysis to estimate characteristics or outcomes of the entire population.

Descriptive Measure

Statistical calculations that summarize or describe characteristics of a data set, including measures like mean, median, mode, and range.

Sample

A Sample refers to a subset of a population used in statistical analysis, mathematically selected to estimate characteristics of the whole population.