If a Country Possesses the Absolute Advantage in the Production

question 55

Multiple Choice

If a country possesses the absolute advantage in the production of one good:

• A)then it must also possess the absolute advantage in the production of the other good.
• B)then it must also possess the comparative advantage in the production of that good.
• C)then it must also possess the comparative advantage in the production of the other good.
• D)it can produce more of that good given the same resources.

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Definitions:

Assembly Line Supervisors

Individuals responsible for overseeing and coordinating the activities of workers on a production line, ensuring efficiency and adherence to safety standards.

Assembly Workers

Assembly workers are employees who work on production lines and are responsible for putting together components of a product.

Cost Of Raw Materials

The expense associated with acquiring raw materials that are necessary for manufacturing goods.

Total Manufacturing Costs

Includes all direct materials, direct labor, and manufacturing overhead costs incurred to produce finished goods.