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