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