If a Country Is Better at Producing All Goods, It

question 20

Multiple Choice

If a country is better at producing all goods, it has a(n) :

• A) trade deficit.
• B) comparative advantage.
• C) absolute advantage.
• D) trade surplus.
• E) None of these answers is correct.

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Definitions:

Mass Production

The manufacture of large quantities of standardized products, often using assembly lines or automated technology.

Mass Consumption

A societal pattern where a large number of consumers purchase significant quantities of goods and services.

Great Depression

A severe worldwide economic depression that took place mostly during the 1930s, originating in the United States.

President Eisenhower

Dwight D. Eisenhower was the 34th President of the United States, serving from 1953 to 1961, known for his leadership during World War II as a five-star general and his role in domestic infrastructure expansion, notably the Interstate Highway System.