If a new drug to cure cancer could be manufactured from the sap of a tree that only grew in a specific microclimate in Morocco, what would that country have relative to all other countries?

A) trade surplus
B) balance-of-payments surplus
C) comparative advantage
D) absolute advantage
E) favorable balance of trade

Answer: D
Explanation: D) Morocco would have a monopoly on producing this raw material that every country would want.

Business

You might also like to view...

Qualifying questions should not serve as opening questions

Indicate whether the statement is true or false

Business

In 2000, approximately how much did consumers spend on goods and services worldwide?

A) $120 billion B) more than $20 trillion C) $10 billion D) $900 trillion

Business