Comparative Advantage Implies Choosing the Activity That

question 327

Multiple Choice

Comparative advantage implies choosing the activity that

• A) has a high opportunity cost.
• B) is inside the production possibilities frontier.
• C) has the lowest opportunity cost.
• D) does not demand any specialization.

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Definitions:

Civil War

A war between citizens of the same country, famously referring to the American Civil War from 1861 to 1865, which was fought over the issues of states' rights and slavery.

April, 1865

A significant month during the American Civil War, marked by the surrender of Confederate General Robert E. Lee, effectively ending the war.

Election of 1860

The 19th presidential election in the United States, resulting in Abraham Lincoln's victory, which precipitated the American Civil War.

Geographic Area

A specific part of the Earth's surface defined by natural or artificial boundaries.