QUESTION 11Absolute advantage simply compares the productivity of a worker:In leaner years.To the productivity of capital.In one year to that same worker in a different year.Between countries.All of the above

Absolute advantage is the advantage that a country has over the other countries in terms of the…

Answered: Absolute advantage simply compares the…

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 6PA

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QUESTION 11

Absolute advantage simply compares the productivity of a worker:

In leaner years.
To the productivity of capital.
In one year to that same worker in a different year.
Between countries.
All of the above

Definition Video Definition Ability of a country to produce more output with a given level of input or to produce the same level of output with a lower level of input as compared to the other countries. For example, if Country A produces 200 units with the help of 10 units of labor, and Country B produces 300 units with 10 units of labor, Country A has an absolute advantage in the production of the good. Video

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