According to Ricardo, a Country Will Have a Comparative Advantage

question 41

Multiple Choice

According to Ricardo, a country will have a comparative advantage in the product in which its

• A) labor productivity is relatively low.
• B) labor productivity is relatively high.
• C) labor mobility is relatively low.
• D) labor mobility is relatively high.
• E) labor is outsourced to neighboring countries.

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Definitions:

Americans

People from or living in the United States, characterized by diverse origins, cultures, and languages.

Motivate

To provide reasons or incentives for someone to act or behave in a particular way.

Means Of Production

Refers to the physical, non-human inputs used for the production of economic value, such as factories, machines, and tools.

Marx

Karl Marx, a 19th-century philosopher and economist known for his theories on capitalism, class struggle, and the development of socialist thought.