If a nation does not have an absolute advantage in producing anything, it

a. has no comparative advantage either.
b. will have a comparative advantage in the activity in which it is least inefficient.
c. will try to get along without trade.
d. will export raw materials and import finished products.

b

Economics

You might also like to view...

In 1860 the ratio of farmers to manufacturing workers was roughly ____ ; by 1910 that ratio was ____

a. 1:1; 1:5 b. 1:3; 1:1 c. 3:1; 1:1 d. 10:1; 1:1

View
Economics

Average cost can be thought of as the cost per unit

a. True b. False Indicate whether the statement is true or false

View
Economics