If a Nation Has the Lowest Opportunity Cost of Producing

question 91

Multiple Choice

If a nation has the lowest opportunity cost of producing a good, that nation has a(n) ________ in the production of that good.

• A)comparative advantage
• B)absolute advantage
• C)comparative advantage and an absolute advantage
• D)absolute advantage and possibly a comparative advantage

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Definitions:

Extraverts

People who are characterized by their preference for social interactions, stimulation, and being active and engaged with the external world.

Introverts

Individuals who prefer solitary activities and get drained by social engagement, contrast to extraverts.

Subjective Well-Being

An individual's self-assessment of their emotions and satisfaction with life, encompassing both emotional reactions and cognitive judgments.

Inequality

The state of not being equal, especially in status, rights, and opportunities.