If a Country Has an Absolute Advantage in Producing All

question 182

Multiple Choice

If a country has an absolute advantage in producing all goods

• A) it should produce all those goods.
• B) it should ask its trading partners which goods it should specialize in.
• C) it would not gain from trade.
• D) there are still benefits to specialization and trade.

---

Definitions:

Normal Distribution

A symmetrical, bell-shaped distribution of data wherein most observations cluster around the central peak and probabilities for values taper off equally in both directions.

Mean

The arithmetic average of a set of values, calculated by summing all the values and then dividing by the number of values.

Normal Curve

A bell-shaped curve that represents the distribution of a set of data where most values cluster around the mean.

Basis

The underlying support or foundation for an idea, argument, or process, often used in various contexts like mathematics, finance, and other disciplines.