Correctly Complete the Following Statements from the Options Below

question 49

Short Answer

Correctly complete the following statements from the options below.
(a) If a country can produce a good at a lower opportunity cost than another country, then it has in the production of that good.
(b) If one country can produce a good using fewer resources than another country, then it has in the production of that good.
(c) If the ratio of a country's average price of exports relative to imports rises, then that country has .

(i) improving terms of trade
(ii) a comparative advantage
(iii) an absolute advantage

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Definitions:

Childhood Sexual Instincts

Early developmental phases where children explore their bodies and experience sexual feelings, as discussed in psychoanalytic theory.

Freud

Sigmund Freud, an Austrian neurologist who is known for founding psychoanalysis, a clinical method for treating psychopathology.

Projection

A defense mechanism where individuals attribute their own unwanted thoughts, feelings, or motives to another person.

Quarrelsome

Quarrelsome describes a person prone to arguments or disputes, often engaging in hostile exchanges.