A Country Has a Comparative Advantage in Producing a Good

question 131

Multiple Choice

A country has a comparative advantage in producing a good when it produces that good:

• A) at a lower opportunity cost than another country.
• B) at a higher opportunity cost than another country.
• C) in greater quantity than another country.
• D) with fewer inputs than another country.

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Definitions:

Regression Line

A straight line that best fits the data points in a scatter plot, showing the trend of the relationship between two variables in regression analysis.

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, expressed at a certain confidence level.

Dependent Variable

A variable in statistical analysis that is influenced or predicted by another variable.

Exposure

The condition of being subjected to something, such as light, chemicals, or experiences, which may have an effect or influence.