According to the absolute advantage, trade occurs only when each country has an/a______ advantage over the other in producing one commodity.
举一反三
- Table 3.1 illustrates Willy and Blythe's hourly production for apples and carrots. From the table, we can conclude that: A: Willy has an absolute advantage in producing apples but not carrots. B: Willy has an absolute advantage in producing carrots but not apples. C: Willy has an absolute advantage in producing both goods. D: Willy does not have an absolute advantage in producing either good.
- Which of the the following statements is true true ? ( ) A: “Two countries can achieve gains from trade even if one of the<br/>countries has an absolute advantage in the production of all goods.” B: “Certain very talented people have a comparative advantage in<br/>everything they do.” C: “If a certain trade is good for one person, it can’t be<br/>good for the other one.” D: “If trade is good for a country, it must be good for everyone in the country.”
- 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
- When one producer has a lower opportunity cost of production than another producer for a given item, what exists? A: Absolute disadvantage B: Comparative disadvantage C: Comparative advantage D: Absolute advantage
- Only by keeping down costs will America maintain its _________ advantage over other countries.