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