Which statement is true? Group of answer choices If one party is more productive in producing both products, it has a comparative advantage in producing both goods None of the listed statements are true A party can have a comparative disadvantage in producing both goods A party has the comparative advantage in producing a good if it has the absolute advantage in producing the other good If parties specialise and trade, it is only the less productive party that can experience any gains from trade
Which statement is true? Group of answer choices If one party is more productive in producing both products, it has a comparative advantage in producing both goods None of the listed statements are true A party can have a comparative disadvantage in producing both goods A party has the comparative advantage in producing a good if it has the absolute advantage in producing the other good If parties specialise and trade, it is only the less productive party that can experience any gains from trade
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Which statement is true?
Group of answer choices
If one party is more productive in producing both products, it has a comparative advantage in producing both goods
None of the listed statements are true
A party can have a comparative disadvantage in producing both goods
A party has the comparative advantage in producing a good if it has the absolute advantage in producing the other good
If parties specialise and trade, it is only the less productive party that can experience any gains from trade
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