A Nation's Comparative Advantage in the Production of an Item

question 73

Multiple Choice

A nation's comparative advantage in the production of an item is determined by

• A)which country has already specialized in production of the item.
• B)the total and marginal costs of producing the item.
• C)the opportunity cost of producing the item relative to a trading partner's opportunity cost of producing the same item.
• D)specialization in the production of all goods.
• E)the quantity of resources required to produce a unit of the item.

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Definitions:

Vertebrae

The individual bones that make up the vertebral column, providing structural support and protecting the spinal cord.

Levator Scapulae

A skeletal muscle situated at the back and side of the neck, its primary function is to elevate the scapula.

Scapula

Also known as the shoulder blade, it is a flat, triangular bone located in the upper back.

Pectoralis Major

A large muscle in the upper chest that assists in the movement of the shoulder joint.