The Law of Comparative Advantage Indicates That

question 3

Multiple Choice

The law of comparative advantage indicates that

• A) specialization and exchange will permit trading partners to maximize their joint output.
• B) a nation can gain from trade only if it is not at an absolute disadvantage in producing all goods.
• C) a nation can gain from trade only when its trading partners are not low-wage countries.
• D) countries should export products for which they are high-opportunity cost producers.

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Definitions:

Archetypes

Universal, inherited models of people, behaviors, or personalities that play a role in influencing human behavior, as proposed by Carl Jung.

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, and experiences.

Influenced

The capacity of a person, object, or idea to have an effect on others or the environment, often without direct or physical presence.

Jungian Theory

A psychological theory developed by Carl Jung that emphasizes the collective unconscious, archetypes, and the process of individuation.