ECONOMICS
Multiple Choice
The law of comparative advantage says that
a. the individual with the lowest opportunity cost of producing a particular good should produce it
b. comparative advantage exists only when one person has an absolute advantage in the production of two goods
c. whoever has a comparative advantage in producing a good also has an absolute advantage in producing that good
d. whoever has an absolute advantage in producing a good also has a comparative advantage in producing that good
e. gains from trade are possible only when one person has the comparative advantage in producing both goods
Click here for the SOLUTION
No comments:
Post a Comment