A Nation Has a Comparative Advantage in a Good When

question 42

Multiple Choice

A nation has a comparative advantage in a good when it has a

• A)lower absolute cost of producing the good.
• B)higher absolute cost of producing the good.
• C)lower opportunity cost of producing the good.
• D)higher opportunity cost of producing the good.
• E)tariff in place protecting the producers of the good.

---

Definitions:

Outstanding Checks

Checks that have been issued and recorded in a company's financial records but have not yet been cashed or cleared by the bank.

NSF

An acronym for "Non-Sufficient Funds," indicating that a check cannot be processed due to insufficient money in the account.

Bank Reconciliation

The process of comparing and adjusting a company's financial records to match the transactions recorded by the bank, ensuring accuracy in the accounts.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented on a bank statement.