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.