« previous next »

Author Question: Can a country have comparative advantage in all products? What will be an ideal ... (Read 83 times)

nelaaney

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
Can a country have comparative advantage in all products?
 
  What will be an ideal response?

Question 2

Both the ________ do not put a great deal of emphasis on the capital account.
 
  A) absorption and monetary approaches
  B) monetary and elasticities approaches
  C) elasticities and absorption approaches
  D) None of the above


rleezy04

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 30, 2018
Answer to Question 1

No, a country can never have comparative advantage in all products, no matter how productive it is in general. Comparative advantage has to do with the relative price a country can produce one good or another in autarky versus the cost at which they can trade those goods with other economies. There will always be goods that are cheaper to produce in another country than at home, relative to the opportunity cost of not producing goods in which the country has comparative advantage.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Indications for Blood Products Indications for Blood Products
Effect of an Increase in R&D in the Follower Country on the Steady State Effect of an Increase in R&D in the Follower Country on the Steady State
GDP per Capita by Country Group, 1820–2008 GDP per Capita by Country Group, 1820–2008
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Transfer of endosymbiont genes to the nuclear genome and destinations of encoded protein products Transfer of endosymbiont genes to the nuclear genome and destinations of encoded protein products
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library