When Opportunity Costs Differ Between Countries

question 38

Multiple Choice

When opportunity costs differ between countries,

• A)comparative advantages may or may not exist.
• B)specialization and trade can lead to increases in the production of all commodities.
• C)each country should produce only those goods for which it has an absolute advantage.
• D)only the larger countries will benefit from trade.
• E)only the smaller countries will benefit from trade.

Recognize and distinguish between discrete and continuous probability distributions.

Utilize the Poisson distribution for calculating probabilities of given events.

Calculate and interpret the mean of a sampling distribution.

Apply principles of sample size determination to control sampling error.

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Definitions:

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