Test: GED Social Studies

1.

In economic terms a "comparative advantage" is best described as __________

the unique advantages possessed by the American Republic that have allowed the country to emerge as the world's dominant economic power. 

the ability of one country to produce a resource cheaper than another country can. 

the belief that a country should primarily focus on ensuring a favorable balance of trade by exporting more than it imports. 

the manner in which a company with a monopoly can lower prices and ensure the continued lack of competition. 

the reason why the work force always has less power than those who employ them. 

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