A country has a comparative advantage if it can produce a good or service
A. at a higher opportunity cost than can other nations.
B. at a lower opportunity cost than can other nations.
C. by using less resources than other nations.
D. that lies outside its production possibilities curve.
Ans: B. at a lower opportunity cost than can other nations.
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A tax rebate, which is expected to be offered in this and all future years, will
A) have a significant positive effect on consumption and aggregate demand, with aggregate demand growing by a multiple of the tax rebate. B) increase aggregate supply and aggregate demand. C) have a small positive effect on consumption and aggregate demand. D) have no effect on consumption and aggregate demand.
If your income is $40,000 and your income tax liability is $5,000 . your
a. marginal tax rate is 8 percent. b. average tax rate is 8 percent. c. marginal tax rate is 12.5 percent. d. average tax rate is 12.5 percent.
During some year a country had exports of $50 billion, imports of $70 billion, and domestic investment of $100 billion. What was its saving during the year?
a. $80 billion b. $100 billion c. $120 billion d. $150 billion
Payoffs are:
A. things that are only enjoyed by the winner. B. always monetary. C. bribes made to gain some advantage unfairly during a game. D. the rewards that come from particular actions.