Absolute Advantage Is Irrelevant,because Knowing the Absolute Number of Labor

question 22

True/False

Absolute advantage is irrelevant,because knowing the absolute number of labor hours required to produce a good does not tell us if we can benefit from trade.

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Definitions:

Duress

A situation where an individual is forced or pressured into making a decision against their will or judgement through threats or coercion.

Telekenex IXC

A telecommunications service provider known for offering voice and data services to businesses.

Unilateral Contract

A promise exchanged for an act.

Bilateral Contract

A promise exchanged for a promise.