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What is the difference between Comparative Advantage and Absolute Advantage?
Difference between Comparative Advantage and Absolute Advantage:
Comparative advantage: it is the opportunity cost of producing the good is lower for which individual than for other people.
Absolute advantage: When he or she can do this better than other people.
Attentive: Don’t confuse about comparative advantage along with absolute advantage!
#“Nominal GDP declined between 2008 and 2009, therefore the GDP deflator must also have declined.”
(I am providing them below) of Module 5 before beginning this assignment. You will have the opportunity to work through much of the assignment during the group activity for week 1
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