A: Absolute disadvantage
B: Comparative disadvantage
C: Comparative advantage
D: Absolute advantage
举一反三
- Suppose Jim and Tom can both produce baseball bats. If Jim’s opportunity cost of producing baseball bats is lower than Tom’s opportunity cost of producing baseball bats, then A: Tom must have an absolute advantage in the production of baseball bats. B: Jim must have an absolute advantage in the production of baseball bats. C: Tom has a comparative advantage in the production of baseball bats. D: Jim has a comparative advantage in the production of baseball bats.
- When a nation requires fewer resources than another nation to produce a product, the nation is said to have a(n): A: Absolute advantage in the production of the product B: Comparative advantage in the production of the product C: Lower marginal rate of transformation for the product D: Lower opportunity cost of producing the product
- _______explains how mutually beneficial trade can take place even when one nation is less efficient than another nation in the production of all commodities.（ ） A: Mercantilism B: The law of comparative advantage C: The labor theory of value D: The law of absolute advantage
- 2. _____________refined the theory of absolute advantage to one of comparative advantage.
- If a Chinese worker can produce1 ton of wheator3 tons of cornper week, while a Brizilian worker can produce2 tons ofwheator5 tons of cornper week: A: Brizil has absolute advantage in both goods. B: Brazil has comparative advantage in corn and China has comparative in wheat. C: Brazil has comparative advantage in wheat and China has comparative in corn. D: Chinahas absolute advantage in corn.
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Lao Li has absolute advantages in arable land and planting. Lao Li ( ) A: Only have absolute advantages in arable land B: Only have a comparative advantage in arable land C: Only have an absolute advantage in sowing D: Only have a comparative advantage in sowing
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Given the information in the following table, __________.[img=231x72]17de7621169bfb0.png[/img] A: neither country has a comparative advantage in cloth. B: Home has a comparative advantage in widgets. C: Foreign has a comparative advantage in widgets. D: Home has a comparative advantage in both cloth and widgets.
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An opportunity cost is the cost of a(an) ______opportunity A: false B. C. D. B: missed C: absolute D: comparative
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The law of comparative advantage ( ). A: explains how a country can benefit from trade even if it has absolute disadvantage in production of all commodities. B: explains how the most efficient nations can benefit from trade. C: was introduced by Adam Smith. D: is used to explain the trade between intra-industry trade.
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中国大学MOOC: The principle of comparative advantage explains why France can produce white wine at a lower opportunity cost than the neighboring country of Germany.