The advantage in the production of a product enjoyed by one country over another when it uses ________ to produce that product than the other country does is an absolute advantage.
A. more labor
B. fewer resources
C. more technology
D. more capital
Answer: B
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A takeover implies that
a. the common shareholders buy out the bondholders b. the government takes over the corporation c. someone or a group is able to purchase all of the outstanding common stock in a corporation d. the board of directors takes control of the corporation e. a proprietorship sells out to a partnership
As the price of cameras increases
A. the demand for cameras will increase. B. the demand for film will increase. C. the demand for film will decrease. D. the supply of cameras will increase.
A straight line production possibilities curve takes this shape because A) the opportunity cost of producing a good is constant. B) the opportunity cost of producing more of a good is decreasing. C) resources are better suit D) resources are fixed.
Aggregate demand is the total value of GDP that
A. all sectors of the economy are willing to purchase at various price levels, all other things unchanged B. all sectors of the economy are willing to sell at various average price levels, all other things unchanged C. consumers are willing to purchase at various average price levels, all other things unchanged D. consumers are willing to purchase at various national income levels, all other things unchanged.