The Law of Comparative Advantage States That

question 98

Multiple Choice

The law of comparative advantage states that:

• A) economies should specialize in the good that they are comparatively better at making.
• B) economies should import goods that are comparatively cheaper to produce at home.
• C) economies should produce goods with comparatively low-quality inputs to reduce costs.
• D) economies should price products comparatively lower than the international price.

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Definitions:

Goal Seek Button

A tool in spreadsheet software that allows the user to find the input value needed to achieve a desired output by changing one variable.

System Date

The current date according to the operating system of a computer or device.

Increase Indent

A formatting option in text editors that moves the line or paragraph further away from the margin, typically used to show hierarchical relationships.

Ranges Of Cells

A group of cells in a spreadsheet program, defined by the starting and ending cell references, which can be used in formulas and functions.