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