When a country can produce a larger amount of a good or service for the same amount of inputs as another country or when it can produce the same amount of a good or service using fewer inputs than another country is known as the theory of:
a. absolute advantage
b. comparative advantage
c. resource endowment
d. Both 1 and 3.
Answer: a. absolute advantage
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amendment to the U.S. Constitution? a. First b. Second c. Fourth d. Fifth
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