The Principal Concept Behind Comparative Advantage Is That a Nation

question 93

Multiple Choice

The principal concept behind comparative advantage is that a nation should

• A) maximize its volume of trade with other nations.
• B) use tariffs and quotas to protect the production of vital products for the nation.
• C) concentrate production on those products for which it has the lowest domestic opportunity cost.
• D) strive to be self-sufficient in the production of essential goods and services.

---

Definitions:

Congress

The legislative branch of the United States federal government, composed of the House of Representatives and the Senate.

November 1963

Notable for the assassination of U.S. President John F. Kennedy on November 22, 1963, an event that shocked the world and had a lasting impact on American society and politics.

August 1964

pertains to the month and year notable for the Gulf of Tonkin incident, which led to the escalation of U.S. involvement in the Vietnam War.

Television Role

Pertains to a character or position assigned to an actor or personality within a TV show or broadcast.