Social Studies, 07.01.2022 22:00 mhwalters
Comparative and Absolute Advantage Quick Check
What distinguishes comparative advantage from absolute advantage in production? (1 point)
1) A country has comparative advantage in production when its opportunity costs of producing a good are higher
than another country's
2) A country has comparative advantage in production when it requires more total inputs than does another country
to produce the same output.
3) A country has comparative advantage in production when it requires fewer total inputs than does another country
to produce the same output
4) A country has comparative advantage in production when its opportunity costs of producing a good are lower
than another country's
Answers: 3
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Comparative and Absolute Advantage Quick Check
What distinguishes comparative advantage from absol...
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