1. Canada has developed a comparative advantage in mining, oil and gas extraction, and lumber. The main source of comparative advantage in these products is

a favourable political climate.

a strong central government.

abundant supplies of natural resources.

technology.

Which of the following will result in a situation where supply decreases more than the increase in demand?

price will decrease and quantity demanded would decrease, former being more than the latter

price will decrease and quantity demanded would increase, former being less than the latter

price will increase and quantity demanded would decrease, former being less than the latter

price will increase and quantity demanded would decrease, former being more than the latter

Answer rating: 100% (QA)

DEandda has devoloped com parative u advantage extraction and lumber T... View the full answer