The United States has a comparative advantage in producing airplanes if
A) it can produce them at a lower opportunity cost than can other nations.
B) it can produce them at a lower dollar cost than can other nations.
C) it can produce a larger quantity than can other nations.
D) it has a larger quantity of skilled workers than do other nations.
A
Economics
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If the demand curve for orange juice is expressed as Q = 2000 - 500p, where Q is measured in gallons and p is measured in dollars, then at the price of $3, elasticity equals
A) -0.33. B) -3. C) -9. D) -17.
Economics
If the exchange rate between yen and dollars were 120 yen per dollar, when an American purchases a good valued at 600 yen, its cost in dollars would be: a. $5
b. $600. c. $72,000. d. $120.
Economics