Changes in Comparative Advantage Over Time from Investment in Physical

question 132

Multiple Choice

Changes in comparative advantage over time from investment in physical and human capital and in technology are called

• A)static comparative advantage.
• B)innovative comparative advantage.
• C)resource-intensive comparative advantage.
• D)dynamic comparative advantage.
• E)differential comparative advantage.

---

Definitions:

Health Maintenance Organizations

A type of health insurance plan that provides a network of doctors and hospitals for patient care, often with an emphasis on prevention and wellness.

Lower Wages

Reduced compensation for work performed, often relative to previous levels or compared to industry standards.

Unions

Organizations of workers that try to raise wages and improve working conditions for their members by bargaining collectively.

Marginal Product of Labor

This refers to the additional output a firm gains from hiring one more unit of labor, holding all other factors constant.