Multiple Choice
Which of the following is an example of absolute advantage?
A) Since Turkey controls the Bosporus Strait,the countries on the Black Sea are completely dependent on it for access to the Mediterranean.
B) India is more efficient at producing cloth than Portugal,but Portugal is more efficient at producing wine than India.
C) Portugal is better at producing wine than producing cloth.
D) The United States makes software more efficiently than any other country.
E) Saudi Arabia has one-fifth of the world's proven oil reserves,but oil refineries in the United States can produce oil more efficiently.
Correct Answer:
Verified
Correct Answer:
Verified
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