The ability of a country to produce a good or service at a lower cost than its trading partners is
A. its absolute advantage.
B. its comparative advantage.
C. both its absolute and comparative advantage.
D. neither its absolute nor its comparative advantage.
A. its absolute advantage.
You might also like to view...
If the price elasticity of demand is 2.5, then a 40 percent decrease in the price of the good will lead to a _______ percent increase in the quantity demanded
a. 22.5 b. 66.7 c. 150.00 d. 100.00
___ is when marketers of most consumer products attempt to attract the attention of large numbers of present or potential customers through mass communications such as advertising or publicity. it is speaking to everyone
Fill in the blank(s) with the appropriate word(s).
Part of the pollution problem is due to
a. the absence of markets for goods like clean air and clean water. b. the lack of well-defined property rights to clean air and clean water. c. the unreliability of voluntary programs to cut pollution. d. All of the above are correct.
Indexing Social Security payments is done using the:
A. PPI. B. RPI. C. CPI. D. GDP deflator.