In the long-run the firm gets to choose which short-run curve it wants to use

A country that has an absolute advantage in producing all goods will ________

A) have a comparative advantage in some goods but not all B) produce all goods at lowest opportunity cost C) have a comparative advantage in all goods D) not gain from specialization and trade

Refer to Table 19-3. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals

A) $2,200. B) $1,600. C) $1,400. D) $1,200.