An Economy Is Said to Have a Comparative Advantage If

question 207

Multiple Choice

An economy is said to have a comparative advantage if it:

• A)can produce more of all goods than another economy.
• B)can produce fewer of all goods than another economy.
• C)has the highest cost of producing a particular good,compared with other economies.
• D)has the lowest cost of producing a particular good,compared with other economies.

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Definitions:

Antecedents

In logic and grammar, the elements that precede or serve as a condition to other elements, often referring to the first part of a conditional statement.

Disjuncts

In logic and grammar, parts of a disjunctive proposition that express alternatives, where the truth of any one implies the falsehood of the other(s).

Conjuncts

Components of a compound statement formed by the word "and" indicating all elements must be true.

Disjunction

A logical operation that results in true if at least one of the operands is true.