A Country Possesses a Comparative Advantage in the Production of a Good

question 214

Multiple Choice

A country possesses a comparative advantage in the production of a good if

• A) the opportunity cost in terms of forgone output of alternative goods is lower for this country than it is for its trading partners.
• B) it possesses an absolute advantage in the production of this good.
• C) it is able to produce more of this good per hour than can any other country.
• D) all of the above.

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Definitions:

Map Books

Collections of maps in book form, often organized geographically or thematically for easy reference.

Benjamin Franklin

A Founding Father of the United States, known for his contributions as an inventor, writer, scientist, and diplomat.