Wages Are Higher in Country X Than in Country Y

question 17

Multiple Choice

Wages are higher in Country X than in Country Y.If the countries decide to trade,then who will benefit?

• A) Neither country can benefit unless one knows the product that is traded.
• B) Both countries can benefit regardless of the products traded.
• C) Only the country that can produce the product more efficiently will benefit.
• D) Only the country that can produce the product at a lower opportunity cost will benefit.
• E) Both countries will benefit,but only if a trade agreement for specific products is made by their respective governments.

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Definitions:

Commonality of Goals

The shared objectives or aims among members of a group or team, which often drive collaborative efforts and teamwork.

Needs Assessment (NA)

A systematic process used to determine and address the gaps between current conditions and desired conditions or needs.

Procure Funding

The process of obtaining financial resources or support for projects, research, or programs.

Critical Needs

Essential requirements or necessities that must be met to ensure the survival or well-being of individuals or systems.