Rose Has a Comparative Advantage in Computer Programming Whereas Sam

question 72

Multiple Choice

Rose has a comparative advantage in computer programming whereas Sam has a comparative advantage in sales. Therefore,

• A)Sam has a lower opportunity cost of spending his time selling than Rose does.
• B)Rose should specialize in sales.
• C)Sam should write computer programs.
• D)Rose has a higher opportunity cost of spending her time writing computer programs than Sam does.
• E)Sam has a higher opportunity cost of spending his time selling than Rose does.

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Definitions:

Sample Size

The number of individuals or observations included in a statistical sample.

Standard Deviation

A gauge for the extent of fluctuation or divergence in a group of numbers.

Margin of Error

The amount of error that can be tolerated, often expressed as a percentage that indicates the range within which the true value is expected to lie with a certain level of confidence.

Confidence Interval

A range of values derived from sample data that is likely to contain the value of an unknown population parameter.