Multiple choice r 1. If one person can perform a task in fewer hours than another, you know the person has in performing the task. r a. an absolute advantage rb. a comparative advantage rc. both a comparative advantage and an absolute advantage r d. neither an absolute nor a comparative advantage re. either an absolute or a comparative advantage
Multiple Choice 1. If one person can perform a task in fewer hours than another, you know the person has ________________in performing the task. a. an absolute advantage. b. a comparative advantage. c. both a comparative advantage and an absolute advantage. d. neither an absolute nor a comparative advantage. e. either an absolute or a comparative advantage
r 2. If a person' s opportunity cost of performing a task is lower than another person's, you know the person has in performing the task r a. an absolute advantage rb. a comparative advantage r C. both a comparative advantage and an absolute advantage r d. neither an absolute nor a comparative advantage re. either an absolute or a comparative advantage
2. If a person's opportunity cost of performing a task is lower than another person's, you know the person has _________ in performing the task. a. an absolute advantage. b. a comparative advantage. c. both a comparative advantage and an absolute advantage. d. neither an absolute nor a comparative advantage. e. either an absolute or a comparative advantage
r3. Which of the following can be a source of comparative advantage for an individual? a, inborn talent b education C training rd. experience re all of the above
3.Which of the following can be a source of comparative advantage for an individual? a. inborn talent b. education c. training d. experience e. all of the above
r4. Which of the following can be a source of comparative advantage for a nation? a natural resources b. entrepreneurship speaking the English language rd. standards of production quality re all of the above
4. Which of the following can be a source of comparative advantage for a nation? a. natural resources b. entrepreneurship c. speaking the English language d. standards of production quality e. all of the above
r5. If a country experiences increasing opportunity costs, its production possibilities curve will a. be a straight line b. bow outward rc bow inward rd. shift out from the origin re. shift in toward the origin
5 . If a country experiences increasing opportunity costs, its production possibilities curve will a. be a straight line. b. bow outward. c. bow inward. d. shift out from the origin. e. shift in toward the origin