HomeworkLib
Question

if one nation can produce greater quanities of a good than another nation it has a(n)

if one nation can produce greater quanities of a good than another nation it has a(n)
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Absolute advantage in that good.

if one nation can produce greater quanities of a good than another nation it has an Absolute advantage in that good.

0 0
Add a comment
Know the answer?
Add Answer to:
if one nation can produce greater quanities of a good than another nation it has a(n)
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • If nation A can produce 20 units of good X and 16 of good Y while...

    If nation A can produce 20 units of good X and 16 of good Y while nation B can produce 18 units of X and 12 of Y, A has an absolute advantage in producing both X and Y.

  • One situation is riskier than another if it has A. a greater expected loss. B. a...

    One situation is riskier than another if it has A. a greater expected loss. B. a lower uncertainty. C. a lower expected loss. D. no uncertainty.

  • 10. Consider the following argument: "If your country can produce every good more efficiently than another...

    10. Consider the following argument: "If your country can produce every good more efficiently than another country, there is no point in engaging in trade with the other country." In the context of the Ricardian model of trade, is this argument convincing? If it is, explain why. If not, explain why not.

  • 10. Consider the following argument: "If your country can produce every good more efficiently than another...

    10. Consider the following argument: "If your country can produce every good more efficiently than another country, there is no point in engaging in trade with the other country." In the context of the Ricardian model of trade, is this argument convincing? If it is, explain why. If not, explain why not

  • 1. Which of the following is true? A. A nation can have a comparative advantage in...

    1. Which of the following is true? A. A nation can have a comparative advantage in the production of a good only if it also has an absolute advantage. B. A nation can have a comparative advantage in the production of every good, but not an absolute advantage. C. A nation cannot have an absolute advantage in the production of every good. D. A nation cannot have a comparative advantage in the production of every good. 2. The fictional country...

  • If the income elasticity of demand for a good is greater than one, it implies that:...

    If the income elasticity of demand for a good is greater than one, it implies that: Answer choices as consumers’ incomes increase, the quantity demanded of the good falls. sales of the good are highly sensitive to changes in consumers’ income.    the quantity demanded of the good increases during a recession.    an increase in consumers’ income will lead to a proportionate increase in sales of the good. sales of the good are highly sensitive to changes in the...

  • [2] A good or service produced in Country A and sold in Country B is: A)...

    [2] A good or service produced in Country A and sold in Country B is: A) an import to Country B. B) an export from Country B. C) a secondary purchase for Country B. D) an unaccounted good or service for Country B. [3] Specialization: A) increases dependence on markets and trade. B) permits greater levels of production than would be attained without it. C) both of the above. D) none of the above. [4] You would expect an increase...

  • lp Save&Exit Submit MC Qu. 141 A nation can produce two products:... A nation can produce...

    lp Save&Exit Submit MC Qu. 141 A nation can produce two products:... A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule: Production Possibilities Schedule Product Steel Wheat 100 90 75 30 In moving stepwise from possibility A to Bto C...to F, the opportunity cost of a unit of steel in terms of wheat Multiple Choice

  • what are the characteristics that would enable one biome to have greater biodiversity than another?

    what are the characteristics that would enable one biome to have greater biodiversity than another?

  • B) Outuums C) Retailing D) Exporting 41. A nation has a in the production of a...

    B) Outuums C) Retailing D) Exporting 41. A nation has a in the production of a good if it can produce that good more effectively or efficiently than it can produce other goods. A) supreme advantage B) primary efficiency c) qualified advantage D) comparative advantage 42. Countries with a low standard of living and quality of life are called: A) industrialized nations. B) Well-endowed societies. c) developing countries. D) opportunities of free trade. 43. Which theory states that a nation...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT