A country is said to have an absolute advantage in a good over another country if that first country:
A. Can produce more units of the good
B. Is a more efficient producer of the good
C. Is a major consumer of the good
D. Has a lower opportunity cost of producing the good
B. Is a more efficient producer of the good
Economics
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The price of a computer is $1,000 and the price of a car is $12,000. What is the relative price of a car? What is the relative price of a computer?
What will be an ideal response?
Economics
The one determinant of the growth of capital per person that can be affected by policy is the
A) depreciation rate. B) saving rate. C) money supply growth. D) rate of technological change.
Economics