If Spain Can Produce a Particular Product at a Lower

question 13

Multiple Choice

If Spain can produce a particular product at a lower relative cost than Portugal, what kind of advantage does Spain have?

• A) an absolute advantage in its production
• B) a resource advantage for all goods
• C) a production advantage for all goods
• D) a comparative advantage in its production

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Definitions:

Vital Capacity (VC)

The greatest volume of air that can be expelled from the lungs after taking the deepest possible breath; an important measurement in respiratory health.

Residual Volume (RV)

The volume of air remaining in the lungs after a forceful expiration, ensuring that gas exchange can continue at all times.

Anatomic Dead Space

refers to areas of the respiratory system where gas exchange does not take place, such as the trachea and bronchi.

Inspiratory Reserve Volume (IRV)

The additional air that can be forcefully inhaled after a normal inhalation.