Author Question: The principle of comparative advantage states that a product should be exported by a. the country ... (Read 66 times)

anshika · **on:** Jun 30, 2018

The principle of comparative advantage states that a product should be exported by

a. the country with the lowest dollar cost
b. the country with the lowest labor cost
c. the country with the lowest opportunity cost
d. the country that has more of that product
e. all of the above

Question 2

Common ownership of resources such as land can be efficient as long as

a. people are honest
b. government regulates resource use
c. rules for resource use are clear in assigning rights and responsibilities
d. penalties for misuse are severe
e. all the above are required