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Economics of Trade Quiz
Economics of Trade Quiz
Quiz
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What is an "absolute advantage" in the context of countries trading?
A.
An ability to produce more of a product than another country with the same resources.
B.
A government-imposed restriction on trade.
C.
An ability to produce a product at a lower opportunity cost than another country.
D.
A situation where one country has all the resources to produce a product.
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