In Addition to Realizing the Benefits of Specialization According to Comparative

question 53

Multiple Choice

In addition to realizing the benefits of specialization according to comparative advantage,a nation that engages in international trade and specialization may realize benefits from

• A)economies of scale and learning by doing.
• B)diseconomies of scale and learning by doing.
• C)learning by doing and increased opportunity costs.
• D)a devaluation of its currency.
• E)a less diversified economy.

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Definitions:

Multinational Corporate Activity

Operations and investments made by companies that operate in multiple countries around the globe, often influencing economic and social policies.

ILO

The International Labour Organization, a UN agency that sets international labor standards and promotes rights at work, including encouraging decent employment opportunities and enhancing social protection.

Labor Standards

Regulations and norms that determine the minimal acceptable conditions for workers' rights, wages, hours, and working conditions.

Core Labor Standards

A set of principles related to workers' rights that are universally recognized and promoted, including prohibition of child labor, forced labor, discrimination, and the encouragement of collective bargaining.