If one nation is able to produce a good at a lower opportunity cost than another, it has
A) an absolute advantage in that good.
B) a comparative advantage in that good.
C) a productivity advantage in that good.
D) a technological advantage in that good.
E) no reason to want to trade that good.
B
Economics
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The times during which real GDP increases are referred to as
A) contractions. B) expansions. C) anti-cycles. D) corrections.
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Compared to the United States, health care spending per person in other high-income countries has been
A) declining at approximately the same rate. B) growing at a slower rate. C) growing at a faster rate. D) growing at approximately the same rate.
Economics