B. Italy has an absolute advantage in wine and olive oil production. Comparative advantage in sleds. Which of the following statements is true? B. Question: Which Of The Following Statements Is True About Free Trade: A. 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) Some very untalented people have a comparative advantage in nothing they do. 11th - 12th grade. A) Some very talented people have a comparative advantage in everything they do. Which of the following statements is true about comparative advantage? D) It is possible to have an absolute disadvantage in doing something but still have a comparative … b. Then Brazil has a a. C) Some very talented people have a very low opportunity cost in everything they do. (A) Robin has an absolute advantage in making smoothies and a comparative advantage in making pizzas. The opportunity cost of producing more machines is constant. Specialization and trade along the lines of comparative advantage allows nations to consume more than if they were to produce just for themselves. 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. Which of the following statements is true? 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. (C) Dana has a comparative advantage in making both smoothies and pizzas. Which of the following statements is true? If Country Y is producing at point C, it is using all its resources efficiently. C. A country cannot have comparative advantage in producing a certain item if it incurs an increasing opportunity cost in … Winter Term 2014 Comparative Advantage Study Questions (with Answers) Page 3 of 6 (8) 6. (D) Dana has a comparative advantage in making 123. Which of the following statements is true? 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. A country can have a comparative advantage without having an absolute advantage. Multiple Choice Comparative advantage and absolute advantage are identical terms. Which of the following statements is true? C. Greece has an absolute advantage in wine and olive oil production. Question: Using The Numbers In The Table, Determine Which Country Has A Comparative Advantage In Producing Each Product. The diagram shows the production possibilities curve for Country Y. O A. B)Comparative advantage is interesting theoretically, but it is not relevant when evaluating real-world economic conditions. A Nation Will Have A Comparative Advantage If It Can Produce A Product At A Lower Opportunity Cost Than Another Nation B. d. A. The U.S. has a comparative advantage and an absolute advantage with nearly all … Free Trade Allows Nations To Gain From Specialization C. Both A & B D. None Of The Above (B) Robin has both an absolute advantage and a comparative advantage in making pizzas. Free trade theory suggests that when trade takes place any gain made one nation comes at the expense of another c. ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. Comparative advantage in clarinets. ... Country A has the comparative advantage in chairs & Country B has the comparative advantage in shirts. a. 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