A Country Has a Comparative Advantage If

question 63

Multiple Choice

A country has a comparative advantage if:

• A) it can produce a commodity at a lower opportunity cost than its trading partner.
• B) it can produce more of a good or service with the same inputs as its trading partner.
• C) it can produce a commodity at a lower average cost than its neighbor.
• D) labor costs are, on average, less than the trading partner's labor costs.

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Definitions:

Lower Classes

A segment of society with lower economic and social status, often associated with lower income and limited access to resources.

Mainstream

Representing prevalent attitudes, values, and practices of the majority within a society or group.

Religious Organizations

Groups or institutions formed around shared beliefs and practices concerning the sacred or divine.

All Classes

Refers to all social strata in a society, from the wealthiest to the poorest, encompassing the full spectrum of socio-economic categories.