Ricardo's Model of Comparative Advantage Assumed All of the Following

question 73

Multiple Choice

Ricardo's model of comparative advantage assumed all of the following except:

• A) In each nation,labor is the only input
• B) Costs do not vary with the level of production
• C) Perfect competition prevails in all markets
• D) Transportation costs rise as distance increases between countries

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Definitions:

Language Development

The way in which kids learn to comprehend and use language during their early years.

Behaviorists

Psychologists who focus on observable behaviors and the processes by which behaviors are learned, often through conditioning.

Critical Period

A specific time in an organism's development when it is particularly sensitive to certain environmental stimuli, making it easier for the organism to acquire certain skills or behaviors.

Sign Language

A language that uses visual-manual modality to convey meaning, primarily used by the deaf and hard of hearing.