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which of the following statements is true of comparative advantage

Which of the following statements is true? B. Italy has an absolute advantage in wine and olive oil production. answer choices . (A) Robin has an absolute advantage in making smoothies and a comparative advantage in making pizzas. Which of the following statements is true? The diagram shows the production possibilities curve for Country Y. d. A. France has a comparative advantage in olive oil production. Output Per Hour Of Work Smartphones Fitness Bracelets 9 12 6 5 Switzerland Canada Which Of The Following Statements Is True? O A. following statements is true? Question: Using The Numbers In The Table, Determine Which Country Has A Comparative Advantage In Producing Each Product. Which of the following statements is true about comparative advantage? a. B) Some very untalented people have a comparative advantage in nothing they do. Suppose that Australia and Brazil have the outputs per worker in producing sleds and clarinets shown in the table at the right. B)Comparative advantage is interesting theoretically, but it is not relevant when evaluating real-world economic conditions. Free trade theory suggests that when trade takes place any gain made one nation comes at the expense of another c. c. Absolute advantage in sleds. A country cannot have a comparative advantage in producing a particular good unless it first has an absolute advantage in producing that good. b. The opportunity cost of producing more machines is constant. Given the data in the chart above, which of the following statements is true? A country can have a comparative advantage without having an absolute advantage. D. Greece has a comparative advantage in wine production. (B) Robin has both an absolute advantage and a comparative advantage in making pizzas. b. Which of the following statements is true? ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. A)Comparative advantage exists whenever one person, firm, or nation can do something with greater opportunity costs than some other individual, firm, or nation. C. A country cannot have comparative advantage in producing a certain item if it incurs an increasing opportunity cost in … Specialization and trade along the lines of comparative advantage allows nations to consume more than if they were to produce just for themselves. Comparative advantage in producing a certain item arises from being the first country to manufacture that item. Which of the following statements is true? The U.S. has a comparative advantage and an absolute advantage with nearly all … Free Trade Allows Nations To Gain From Specialization C. Both A & B D. None Of The Above A) Some very talented people have a comparative advantage in everything they do. Preview this quiz on Quizizz. Then Brazil has a a. Which of the following statements is true? Comparative advantage in sleds. (D) Dana has a comparative advantage in making Question: Which Of The Following Statements Is True About Free Trade: A. C. Greece has an absolute advantage in wine and olive oil production. A Nation Will Have A Comparative Advantage If It Can Produce A Product At A Lower Opportunity Cost Than Another Nation B. o The country with the higher opportunity cost of producing a good has the comparative advantage in producing that good, O There are mutually beneficial gains from trade if opportunity costs differ. Winter Term 2014 Comparative Advantage Study Questions (with Answers) Page 3 of 6 (8) 6. 123. Comparative advantage in clarinets. If Country Y is producing at point C, it is using all its resources efficiently. (C) Dana has a comparative advantage in making both smoothies and pizzas. 11th - 12th grade. Which of the following statements is true? A. D) It is possible to have an absolute disadvantage in doing something but still have a comparative … Which of the following statements is true? Multiple Choice Comparative advantage and absolute advantage are identical terms. B. O A country that has the absolute advantage in producing a good also has the comparative advantage in producing that good. The Opportunity Cost For Switzerland To Produce One Smartphone Is 0.75 Fitness Bracelet, B. C) Some very talented people have a very low opportunity cost in everything they do. Comparative Advantage DRAFT. ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. ) Some very untalented people have a very low opportunity cost than Another Nation B o Country... Theoretically, but it is using all its resources efficiently producing sleds and clarinets shown in the,. It first has an absolute advantage and a comparative advantage in making smoothies and.! 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