One Region Is Said to Have an Absolute Advantage Over

question 11

Multiple Choice

One region is said to have an absolute advantage over another region in the production of good X when

• A)there is no demand for good X in the second region.
• B)the opportunity cost of one unit of X is lower in the first region than in the second region.
• C)an equal quantity of resources can produce more of good X in the first region than in the second region.
• D)the first region has a larger supply of the raw materials required to produce good X.
• E)the first region has a more productive labour force than the second.

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Definitions:

Separation of Powers

A fundamental principle in constitutional law where the government's powers are divided among three branches: legislative, executive, and judicial, to prevent abuse of power.

Congressional Delegation

Congressional delegation refers to the process by which Congress grants specific powers to administrative agencies or the executive branch of government, often seen in the context of regulatory authority.

Core Purpose

The fundamental reason for an organization's existence, beyond just making money, which guides its operations and priorities.

Administrative Agencies

Entities established by governments to enforce and administer specific laws and regulations.