If a Nation Has the Lowest Opportunity Cost of Producing

question 91

Multiple Choice

If a nation has the lowest opportunity cost of producing a good, that nation has a(n) ________ in the production of that good.

• A)comparative advantage
• B)absolute advantage
• C)comparative advantage and an absolute advantage
• D)absolute advantage and possibly a comparative advantage

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Definitions:

Jurisdiction

The authority of a court to hear and decide cases.

Unconditional Victory

A complete and total win in a conflict or competition without any conditions or compromises.

European Union

A political and economic union of 27 member countries that are located primarily in Europe, aiming to ensure free movement of goods, services, and people.