123. Preview this quiz on Quizizz. A Nation Will Have A Comparative Advantage If It Can Produce A Product At A Lower Opportunity Cost Than Another Nation B. A. 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. The opportunity cost of producing more machines is constant. B. Italy has an absolute advantage in wine and olive oil production. Which of the following statements is true about comparative advantage? C. A country cannot have comparative advantage in producing a certain item if it incurs an increasing opportunity cost in … Specialization and trade along the lines of comparative advantage allows nations to consume more than if they were to produce just for themselves. A)Comparative advantage exists whenever one person, firm, or nation can do something with greater opportunity costs than some other individual, firm, or nation. Which of the following statements is true? Free Trade Allows Nations To Gain From Specialization C. Both A & B D. None Of The Above Then Brazil has a a. answer choices . ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. The Opportunity Cost For Switzerland To Produce One Smartphone Is 0.75 Fitness Bracelet, B. A country cannot have a comparative advantage in producing a particular good unless it first has an absolute advantage in producing that good. Question: Which Of The Following Statements Is True About Free Trade: A. 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? A) Some very talented people have a comparative advantage in everything they do. Multiple Choice Comparative advantage and absolute advantage are identical terms. D. Greece has a comparative advantage in wine production. Comparative advantage in sleds. (D) Dana has a comparative advantage in making Comparative advantage in clarinets. c. Absolute advantage in sleds. (A) Robin has an absolute advantage in making smoothies and a comparative advantage in making pizzas. d. (C) Dana has a comparative advantage in making both smoothies and pizzas. B)Comparative advantage is interesting theoretically, but it is not relevant when evaluating real-world economic conditions. B) Some very untalented people have a comparative advantage in nothing they do. Given the data in the chart above, which of the following statements is true? Comparative Advantage DRAFT. b. O A country that has the absolute advantage in producing a good also has the comparative advantage in producing that good. Free trade theory suggests that when trade takes place any gain made one nation comes at the expense of another c. 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. O A. Winter Term 2014 Comparative Advantage Study Questions (with Answers) Page 3 of 6 (8) 6. The diagram shows the production possibilities curve for Country Y. Comparative advantage in producing a certain item arises from being the first country to manufacture that item. Question: Using The Numbers In The Table, Determine Which Country Has A Comparative Advantage In Producing Each Product. Which of the following statements is true? If Country Y is producing at point C, it is using all its resources efficiently. A. France has a comparative advantage in olive oil production. (B) Robin has both an absolute advantage and a comparative advantage in making pizzas. 11th - 12th grade. B. Which of the following statements is true? a. 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? D) It is possible to have an absolute disadvantage in doing something but still have a comparative … b. C) Some very talented people have a very low opportunity cost in everything they do. Which of the following statements is true? ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. The U.S. has a comparative advantage and an absolute advantage with nearly all … Have a comparative advantage if it can Produce a Product at a Lower opportunity cost than Nation. Evaluating real-world economic conditions if Country Y is producing at point C, it is using its. 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