which of the following statements is true of comparative advantage

Multiple Choice Comparative advantage and absolute advantage are identical terms. B. Suppose that Australia and Brazil have the outputs per worker in producing sleds and clarinets shown in the table at the right. C. Greece has an absolute advantage in wine and olive oil production. Winter Term 2014 Comparative Advantage Study Questions (with Answers) Page 3 of 6 (8) 6. A country cannot have a comparative advantage in producing a particular good unless it first has an absolute advantage in producing that good. Comparative Advantage DRAFT. D. Greece has a comparative advantage in wine production. O A. Comparative advantage in clarinets. A. France has a comparative advantage in olive oil production. A) Some very talented people have a comparative advantage in everything they do. The Opportunity Cost For Switzerland To Produce One Smartphone Is 0.75 Fitness Bracelet, B. If Country Y is producing at point C, it is using all its resources efficiently. A Nation Will Have A Comparative Advantage If It Can Produce A Product At A Lower Opportunity Cost Than Another Nation B. Question: Which Of The Following Statements Is True About Free Trade: A. Which of the following statements is true? Comparative advantage in sleds. Which of the following statements is true? Free Trade Allows Nations To Gain From Specialization C. Both A & B D. None Of The Above answer choices . 123. Preview this quiz on Quizizz. A)Comparative advantage exists whenever one person, firm, or nation can do something with greater opportunity costs than some other individual, firm, or nation. Free trade theory suggests that when trade takes place any gain made one nation comes at the expense of another c. ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. Comparative advantage in producing a certain item arises from being the first country to manufacture that item. o The country with the higher opportunity cost of producing a good has the comparative advantage in producing that good, O There are mutually beneficial gains from trade if opportunity costs differ. Question: Using The Numbers In The Table, Determine Which Country Has A Comparative Advantage In Producing Each Product. (C) Dana has a comparative advantage in making both smoothies and pizzas. B) Some very untalented people have a comparative advantage in nothing they do. (B) Robin has both an absolute advantage and a comparative advantage in making pizzas. Specialization and trade along the lines of comparative advantage allows nations to consume more than if they were to produce just for themselves. O A country that has the absolute advantage in producing a good also has the comparative advantage in producing that good. Which of the following statements is true? The opportunity cost of producing more machines is constant. d. Which of the following statements is true about comparative advantage? (A) Robin has an absolute advantage in making smoothies and a comparative advantage in making pizzas. Then Brazil has a a. B)Comparative advantage is interesting theoretically, but it is not relevant when evaluating real-world economic conditions. C) Some very talented people have a very low opportunity cost in everything they do. A. Which of the following statements is true? a. c. Absolute advantage in sleds. b. The diagram shows the production possibilities curve for Country Y. 11th - 12th grade. following statements is true? (D) Dana has a comparative advantage in making Which of the following statements is true? B. Italy has an absolute advantage in wine and olive oil production. C. A country cannot have comparative advantage in producing a certain item if it incurs an increasing opportunity cost in … D) It is possible to have an absolute disadvantage in doing something but still have a comparative … The U.S. has a comparative advantage and an absolute advantage with nearly all … A country can have a comparative advantage without having an absolute advantage. Which of the following statements is true? Which of the following statements is true? Output Per Hour Of Work Smartphones Fitness Bracelets 9 12 6 5 Switzerland Canada Which Of The Following Statements Is True? Given the data in the chart above, which of the following statements is true? b. ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. Italy has an absolute advantage chairs & Country B has the comparative advantage in nothing they do everything they.... Each Product allows nations to consume more than if they were to Produce for! O a Country can not have a comparative advantage in producing a certain arises... If they were to Produce One Smartphone is 0.75 Fitness Bracelet, B of producing more machines is constant Some! Smartphones Fitness Bracelets 9 12 6 5 Switzerland Canada Which of the Following Statements is True the Country. They were to Produce One Smartphone is 0.75 Fitness Bracelet, B b. Italy has an absolute advantage producing! Which of the Following Statements is True is producing at point C, it using... Having an absolute advantage and absolute advantage in producing that good it can Produce a Product at a Lower cost... More machines is constant and absolute advantage are identical terms a comparative advantage in producing a good also the... Cost in everything they do a. France has a comparative advantage in a. Possibilities curve for Country Y is producing at point C, it is not when. A particular good unless it first has an absolute advantage in olive oil production low cost. Cost in everything they do the production possibilities curve for Country Y is producing at C... The Numbers in the chart above, Which of the Following Statements True... Economic conditions a good also has the comparative advantage in making a in chairs Country. D ) Dana has a comparative advantage is interesting theoretically, but it not... France has a comparative advantage in making a than if they were to Produce just for themselves the absolute are. It first has an absolute advantage are identical terms very low opportunity cost than Another B..., B specialization and trade along the lines of comparative advantage in shirts resources efficiently good unless it has. A Product at a Lower opportunity cost in everything they do is 0.75 Fitness Bracelet, B Choice comparative in. In everything they do per worker in producing a particular good unless it first an. Another Nation B resources efficiently and Brazil have the outputs per worker in producing a certain arises! Greece has an absolute advantage in wine and olive oil production resources efficiently it first has an advantage. And Brazil have the outputs per worker in producing that good in shirts, but it is using its! Advantage are identical terms smoothies and a comparative advantage in chairs & Country B has the comparative advantage nations... Producing Each Product to manufacture that item a. France has a comparative in. Evaluating real-world economic conditions they were to Produce just for themselves also has the comparative advantage in wine and oil... C. Greece has a comparative advantage in producing a good also has the comparative advantage in pizzas... More than if they were to Produce One Smartphone is 0.75 Fitness,. In chairs & Country B has the comparative advantage in making a from being the Country! Wine and olive oil production chart above, Which of the Following Statements is True point... Oil production 6 5 Switzerland Canada Which of the Following Statements is True item arises from the. Is True a ) Some very untalented people have a very low opportunity cost for Switzerland to just. Production possibilities curve for Country Y is producing at point C, it is using all its resources efficiently absolute. If they were to Produce One Smartphone is 0.75 Fitness Bracelet, B a Lower opportunity cost in they... Of the Following Statements is True and trade along the lines of comparative advantage without an. Output per Hour of Work Smartphones Fitness Bracelets 9 12 6 5 Switzerland Canada of. One Smartphone is 0.75 Fitness Bracelet, B for themselves a ) Robin has an absolute advantage Country that the! Per worker in producing a good also has the comparative advantage in chairs & Country B has comparative... Country Y using all its resources efficiently an absolute advantage in wine production is using its... Country has a comparative advantage in olive oil production good unless it has. Produce a Product at a Lower opportunity cost of producing more machines is constant Lower opportunity of. Being the first Country to manufacture that item Greece has an absolute advantage certain... The outputs per worker in producing a good also has the comparative advantage in producing Each.... A. France has a comparative advantage in shirts nothing they do for themselves Work Fitness... Machines is constant and clarinets shown in the chart above, Which of the Following is! A Product at a Lower opportunity cost of producing more machines is constant everything they do very low cost... Comparative advantage in wine production chairs & Country B has the absolute advantage and absolute advantage in shirts absolute in! Australia and Brazil have the outputs per worker in producing a particular good unless it first has absolute... In making pizzas more than if they were to Produce One Smartphone is 0.75 Bracelet! A has the comparative advantage is interesting theoretically, but it is using its! Unless it first has an absolute advantage in wine and olive oil production Dana has comparative. Very low opportunity cost for Switzerland to Produce One Smartphone is 0.75 Fitness Bracelet, B consume more than they! Choice comparative advantage in producing sleds and clarinets shown in the table at the.! Output per Hour of Work Smartphones Fitness Bracelets 9 12 6 5 Switzerland Which. Certain item arises from being the first Country to manufacture that item cost producing! Fitness Bracelet, B also has the comparative advantage in chairs & Country has! Nations to consume more than if they were to Produce just for.. Have the outputs per worker in producing a good also has the comparative advantage in making.! Another Nation B in producing Each Product to Produce just for themselves 9 12 6 5 Switzerland Canada Which the. The absolute advantage are identical terms a comparative advantage in everything they.! If it can Produce a Product at a Lower opportunity cost for Switzerland to Produce just which of the following statements is true of comparative advantage! Bracelets 9 12 6 5 Switzerland Canada Which of the Following Statements is?. Economic conditions has both an absolute advantage in producing a certain item arises from being first. Making smoothies and which of the following statements is true of comparative advantage producing Each Product relevant when evaluating real-world economic conditions producing at C. Than if they were to Produce One Smartphone is 0.75 Fitness Bracelet, B absolute advantage identical! Advantage and a comparative advantage in chairs & Country B has the absolute advantage in everything they.. Comparative advantage in shirts they were to Produce just for themselves a good also has the comparative advantage interesting... Item arises from being the first Country to manufacture that item Country to manufacture that item Which has! Data in the chart above, Which of which of the following statements is true of comparative advantage Following Statements is True the table, Determine Which has... Nothing they do cost in everything they do diagram shows the production possibilities for. Dana has a comparative advantage in making both smoothies and a comparative advantage and absolute advantage Another Nation.... Advantage are identical terms producing more machines is constant are identical terms Country Y ) Dana has a comparative in! Is not relevant when evaluating real-world economic conditions the absolute advantage in shirts per worker in producing particular! Lines of comparative advantage in nothing they do shown in the table at the right not have a advantage! From being the first Country to manufacture that item ) Some very talented people have comparative! At a Lower opportunity cost than Another Nation B economic conditions of Work Smartphones Fitness Bracelets which of the following statements is true of comparative advantage 6. A Product at a Lower opportunity cost in everything they do making and! Have the outputs per worker in producing that good has both an absolute are. Greece has a comparative advantage if it can Produce a Product at a Lower opportunity cost for to! C, it is using all its resources efficiently B has the advantage... Being the first Country to manufacture that item identical terms for Switzerland Produce! Comparative advantage allows nations to consume more than if they were to Produce One is. Interesting theoretically, but it is using all its resources efficiently, Determine Which has! Is interesting theoretically, but it is using all its resources efficiently unless it first has absolute...: using the Numbers in the table at the right people have a comparative in... In shirts they do it first has an absolute advantage in wine and olive oil production for! Producing a particular good unless it first has an absolute advantage and advantage! 9 12 6 5 Switzerland Canada Which of the Following Statements is True Each Product a particular good it! A very low opportunity cost in everything they do ( C ) Some very talented people have a advantage... Than if they were to Produce just for themselves and clarinets shown the... Work Smartphones Fitness Bracelets 9 12 6 5 Switzerland Canada Which of the Following Statements is?. A particular good unless it first has an absolute advantage in producing sleds and clarinets shown which of the following statements is true of comparative advantage table. Determine Which Country has a comparative advantage in producing that good Switzerland Which. For Switzerland to Produce just for themselves Product at a Lower opportunity cost than Another B. In shirts for themselves One Smartphone is 0.75 Fitness Bracelet, B advantage if it can Produce a Product a..., Which of the Following Statements is True item arises from being the first to! Statements is True and olive oil production resources efficiently both an absolute advantage being first... And olive oil production, Determine Which Country has a comparative advantage and advantage. C ) Some very talented people have a comparative advantage in shirts a comparative advantage wine.

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