1. you have a comparative advantage when your

• a. absolute cost is lower than your competitors absolute cost
• b. absolute cost is higher than your competitors absolute cost
• c. opportunity cost is lower than your absolute cost
• d. opportunity cost is lower than your competitors opportunity cost

2. The "NO - markets fail often" hands-on camp believes

• a. losers in importing competing companies should not be helped
• b. market failure is worse than government failure
• c. government should leave labor markets alone
• d. government will not operate in the public interest

3. According to the Economist magazine, the rich countries'

• a. trade rules in farming and textiles discriminate against poorer countries
• b. protection of intellectual property rights discriminates against poorer countries
• c. subsidies waste energy and harm the planet
• d. all the above