Comparative Advantage Is

question 8

Multiple Choice

Comparative advantage is:

• A) not important in the modern world.
• B) the same as an absolute advantage.
• C) the ability of a country to produce a good at a higher opportunity cost than another
• Country.
• D) the ability of a country to produce a good at a lower opportunity cost than another
• Country.

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Definitions:

Specified Amount

A certain, defined quantity or sum mentioned in a financial document or agreement.

Definite Time

A specified, clear duration with a known start and end point.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for.

Notes Receivable

Notes receivable are written promises for amounts to be received, typically detailing the interest rate and when the principal and interest payments are due.