If One Nation Is Able to Produce a Good at a Lower

question 49

Multiple Choice

If one nation is able to produce a good at a lower opportunity cost than another,it has

• A)an absolute advantage in that good.
• B)a comparative advantage in that good.
• C)a productivity advantage in that good.
• D)a technological advantage in that good.
• E)no reason to want to trade that good.

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Definitions:

Federal Jurisdiction

The legal authority of the federal government to govern or legislate on certain issues and cases, as distinct from state jurisdiction.

Conditional Jurisdiction

A legal principle where a court has the authority to hear a case based on certain conditions being met.

Subject-Matter Jurisdiction

The power of a court over the type of case presented to it.

In Rem

A legal term referring to actions or judgments that apply to a piece of property directly, rather than against a person.