In international trade, if a country has a "comparative advantage" in a product this means:
it is relatively more efficient than other countries in making the product
it is relatively less efficient than other countries in making the product
it is equally efficient as other countries in making the product
it should import the product rather than export it
it is relatively more efficient than other countries in making the product
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What is gained when people engage in specialization and trade?
A) Specialization and trade allow people to consume outside their individual production possibilities frontiers. B) Specialization and trade allow people to consume at a point on their production possibilities frontiers. C) Specialization and trade allow people to produce outside their individual production possibilities frontiers. D) Specialization and trade allow people to consume inside their production possibilities frontiers. E) There are no gains from specialization and trade.
Which antitrust law prohibited firms from buying stock in competitors and from having directors serve on the boards of competing firms?
A) the Sherman Act B) the Robinson-Patman Act C) the Clayton Act D) the Securities and Exchange Act