If a nation has an absolute advantage in the production of a good,
A. it can produce that good at a lower opportunity cost than its trading partner.
B. it can produce that good using fewer resources than its trading partner.
C. it will specialize in the production of that good and export it.
D. all of these.
Answer: B
Economics
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The natural rate of unemployment consists of
A. only seasonal unemployment. B. unemployment associated with high inflation. C. only structural unemployment. D. structural and frictional unemployment.
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