Author Question: According to the principle of comparative advantage, a. a country will benefit by specializing in ... (Read 45 times)

Davideckstein7 · **on:** Jun 30, 2018

According to the principle of comparative advantage,
a. a country will benefit by specializing in the production of goods in which it has a relatively lower cost of production.
b. a country will benefit by specializing in the production of goods in which it has a relatively higher cost of production.
c. a country will benefit by importing goods in which it has a relatively low opportunity cost.
d. a country will benefit by becoming economically self-sufficient.

Question 2

Henry Ford is most recognized for:
a. inventing new technology to further the steel production process.
b. developing the first investment banks.
c. implementing the first progressive, moving assembly-line system for large, complex final products.
d. playing an integral role in developing the first American factory.

Carissamariew · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

a. a country will benefit by specializing in the production of goods in which it has a relatively lower cost of production.

Answer to Question 2

c. implementing the first progressive, moving assembly-line system for large, complex final products.