When a Nation Has a Comparative Advantage in the Production

question 344

Multiple Choice

When a nation has a comparative advantage in the production of a particular good

• A) the nation tends to avoid specialization.
• B) the comparative advantage encourages self-sufficiency.
• C) the opportunity cost of producing that good is higher than that of other goods.
• D) the nation can gain from trade.

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Definitions:

Apothecary Measurement

A historical system of weight and volume units used primarily by pharmacists for the compounding and dispensing of medications.

Equivalent

Equal in value, measure, force, effect, significance, etc. Often used in mathematical, scientific, and logical comparisons.

Apothecary Equivalent

A term referring to the system of weight and volume measurement used historically in pharmacies and the science of pharmacy.

Fluid Ounce

A unit of volume typically used in measuring liquids, equivalent to approximately 28.4 ml in the British imperial system and 29.6 ml in the US system.