Assume a Nation Has a Comparative Advantage in the Production

question 81

Multiple Choice

Assume a nation has a comparative advantage in the production of clothing.If the value of this country's currency rises,_____.

• A)its comparative advantage will decrease
• B)its comparative advantage will stay the same
• C)its comparative advantage will increase
• D)an absolute advantage will be created

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Definitions:

Early Adopters

Individuals or organizations who use or purchase new products, technologies, or services soon after they are launched, often before the majority of consumers do.

Diffusion of Innovation

The process by which a new idea, product, or behavior spreads through a population over time.

Diffusion of Innovation

The process by which a new idea, product, or behavior spreads through a population, influencing the adoption rate across individuals and groups.

Social Status

The position or rank of a person or group within the social hierarchy, often influencing power, prestige, and access to resources.