When a Nation First Begins to Trade with Other Countries

question 271

Multiple Choice

When a nation first begins to trade with other countries and the nation becomes an importer of corn,

• A)this is an indication that the world price of corn exceeds the nation's domestic price of corn in the absence of trade.
• B)this is an indication that the nation has a comparative advantage in producing corn.
• C)the nation's consumers of corn become better off and the nation's producers of corn become worse off.
• D)All of the above are correct.

Explain how fear arousal and solution provision can influence persuasion effectiveness.

Understand the strategies for reducing intergroup hostility and prejudice.

Recognize the importance of group size and unanimity on conformity and social influence.

Differentiate between characteristics of effective and ineffective sources of persuasive messages.

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Definitions:

Ingroup Bias

The tendency to favor members of one's own group over those in other groups.

Social Comparison

The process of comparing oneself to others in order to evaluate one's own abilities, status, or situation.

Cautious

Describes a behavior characterized by careful foresight to avoid potential risks or dangers.

Extraversion

A personality trait characterized by outgoingness, high levels of sociability, and a preference for social interaction.