The opportunity cost of an action is the best thing given up. Question 12 options: True False Question 13 (1 point) When one person (or nation) is more productive than anotherneeds fewer inputs or takes less time to produce a good or perform a production taskwe can say that this person (or nation) has an absolute advantage. Question 13 options: True False Question 14 (1 point) Comparative advantage is the ability of a person to perform an activity or produce a good or service at a lower opportunity cost than someone else. Question 14 options: True False Question 15 (1 point) An economy grows when it develops better technology, improves the quality of labor, or increases the quantity of capital. Question 15 options: True False Question 16 (1 point) When an economy's resources increase, its production possibilities expand and its PPF shifts outward. Question 16 options: True False