-In the Table Above, Country a Is Producing 4 Units

question 14

Multiple Choice

-In the table above, country A is producing 4 units of X and 8 units of Y and country B is producing 4 units of X and 6 units of Y. Regarding the production of good X

• A) country A has an absolute advantage.
• B) country B has an absolute advantage.
• C) country A has a comparative advantage.
• D) country B has a comparative advantage.

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Definitions:

Analyzing Bids

The process of reviewing and comparing proposals from vendors or contractors to select the best option.

Due Diligence

It involves a comprehensive appraisal or investigation conducted to establish the assets, liabilities, and commercial potential of a business entity before financial transactions or agreements.

Transactional Work

Tasks or jobs that involve routine and standard processes where the input-output relationship is relatively direct and predictable.

Management's Time

Refers to how managers allocate their working hours among various tasks and responsibilities to effectively run an organization.