d. 123. Preview this quiz on Quizizz. B. D. Greece has a comparative advantage in wine production. A country can have a comparative advantage without having an absolute advantage. A country cannot have a comparative advantage in producing a particular good unless it first has an absolute advantage in producing that good. a. A) Some very talented people have a comparative advantage in everything they do. Which of the following statements is true? Winter Term 2014 Comparative Advantage Study Questions (with Answers) Page 3 of 6 (8) 6. (A) Robin has an absolute advantage in making smoothies and a comparative advantage in making pizzas. Which of the following statements is true? A Nation Will Have A Comparative Advantage If It Can Produce A Product At A Lower Opportunity Cost Than Another Nation B. b. B) Some very untalented people have a comparative advantage in nothing they do. Which of the following statements is true? Question: Which Of The Following Statements Is True About Free Trade: A. If Country Y is producing at point C, it is using all its resources efficiently. (B) Robin has both an absolute advantage and a comparative advantage in making pizzas. Which of the following statements is true? A)Comparative advantage exists whenever one person, firm, or nation can do something with greater opportunity costs than some other individual, firm, or nation. Question: Using The Numbers In The Table, Determine Which Country Has A Comparative Advantage In Producing Each Product. Comparative advantage in producing a certain item arises from being the first country to manufacture that item. C. A country cannot have comparative advantage in producing a certain item if it incurs an increasing opportunity cost in … The opportunity cost of producing more machines is constant. Suppose that Australia and Brazil have the outputs per worker in producing sleds and clarinets shown in the table at the right. O A country that has the absolute advantage in producing a good also has the comparative advantage in producing that good. Comparative Advantage DRAFT. Which of the following statements is true about comparative advantage? c. Absolute advantage in sleds. Which of the following statements is true? C. Greece has an absolute advantage in wine and olive oil production. Output Per Hour Of Work Smartphones Fitness Bracelets 9 12 6 5 Switzerland Canada Which Of The Following Statements Is True? Specialization and trade along the lines of comparative advantage allows nations to consume more than if they were to produce just for themselves. answer choices . following statements is true? The U.S. has a comparative advantage and an absolute advantage with nearly all … Then Brazil has a a. A. France has a comparative advantage in olive oil production. A. ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. B. Italy has an absolute advantage in wine and olive oil production. The Opportunity Cost For Switzerland To Produce One Smartphone Is 0.75 Fitness Bracelet, B. O A. 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. (D) Dana has a comparative advantage in making C) Some very talented people have a very low opportunity cost in everything they do. B)Comparative advantage is interesting theoretically, but it is not relevant when evaluating real-world economic conditions. Which of the following statements is true? The diagram shows the production possibilities curve for Country Y. Free trade theory suggests that when trade takes place any gain made one nation comes at the expense of another c. D) It is possible to have an absolute disadvantage in doing something but still have a comparative … Comparative advantage in clarinets. b. 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