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