Ithilium a european country is able to produce more

45.
Ithilium, a European country, is able to produce more electronics than Kilim, a North Ameri
can country, even though both countries use the same amount of resources. Given this informatio
n, it can be deduced that Ithilium has a(n):
a.
comparative advantage over Kilim.
b.
higher trade surplus than Kilim.
*c.
absolute advantage over Kilim.
d.
higher balance of payments surplus than Kilim.
46.
Sloimekia can manufacture more of a certain kind of cloth than its neighboring countries, alt
hough they all have the same amount of resources for the cloth's production. In this scenario, whi
ch of the following statements is true of Sloimekia?
47.
Unless they face major trade barriers, the industries in any country tend to produce products
for which they have a _____, which means that they tend to turn out those goods that have the lo
west opportunity cost compared to other countries.
48.
When the industries in a country tend to produce products that have the lowest opportunity c
ost relative to other countries, the country most likely has a _____.
49.
Openi, an island nation, is able to increase its textile production without having to comprom
ise on the production of other materials. This is in contrast to other nations that need to lower the
production of other materials to increase their textile production. In this scenario, Openi has a ___
__ in textile production.

*a.
comparative advantage
b.
balance of payments surplus
c.
positive balance
d.
trade surplus