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Unformatted text preview: have the absolute advantage in producing that product. a. T b. F Quiz1 Answer Section MULTIPLE CHOICE 6. ANS: C PTS: 1 DIF: 2 REF: 3-1 NAT: Analytic LOC: Understanding and applying economic models TOP: Production possibilities frontier MSC: Applicative 7. ANS: D PTS: 1 DIF: 3 REF: 3-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Comparative advantage | Specialization | Trade MSC: Analytical TRUE/FALSE 8. ANS: F PTS: 1 DIF: 2 REF: 3-2 NAT: Analytic LOC: Gains from trade, specialization and trade TOP: Absolute advantage | Comparative advantage MSC: Interpretive...
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This note was uploaded on 04/18/2008 for the course ECO 201 taught by Professor Saravia during the Spring '08 term at American University of Sharjah.
- Spring '08