If Country a Has a Comparative Advantage in the Production

question 55

Multiple Choice

If Country A has a comparative advantage in the production of good X relative to Country B,

• A)we do not have enough information to say anything about relative opportunity costs.
• B)then Country A also has an absolute advantage in the production of this good.
• C)then the opportunity cost of producing X in Country A is higher than in Country B.
• D)then Country A also has an absolute advantage in the production of some good other than X.
• E)then the opportunity cost of producing X in Country A is lower than in Country B.

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Definitions:

Organizational Competitiveness

The ability of an organization to develop and maintain an edge over its competitors through strategies, efficiencies, or qualities that are unique and valuable.

Work-Life Balance

The equilibrium between personal life and professional obligations, ensuring both are maintained without undue stress or conflict.

Economic Prosperity

The state of flourishing, thriving, good fortune, or successful social status within an economy.

Performance Management Process

A systematic approach used by organizations to improve employee performance through setting objectives, assessing progress, and providing ongoing coaching and feedback.