A Nation's Comparative Advantage Is Determined by

question 134

Multiple Choice

A nation's comparative advantage is determined by

• A)the total cost of production.
• B)the quantity of resources required to produce a unit of output.
• C)the opportunity cost of producing an item relative to a trading partner's opportunity cost of producing the same item.
• D)specialization in the production of all goods.

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Definitions:

Rung(s)

Logical levels in a ladder diagram, representing a series of connected electrical elements in control programming, like those in a PLC (Programmable Logic Controller).

True

A logical value indicating truth or acceptance in boolean logic or conditions.

LESS THAN Instruction

A programming operation used to compare two values, resulting in a Boolean output that is true if the first value is less than the second.