Economic Theory States That Losing a Comparative Advantage at Producing

question 115

Multiple Choice

Economic theory states that losing a comparative advantage at producing one good means creating a comparative advantage at producing another. As an economy transitions from producing one good to producing another good:

• A) those who must transition from the production of one good to the production of another good may find the transition difficult in the short run.
• B) the transition can be seen as a success in the short run.
• C) outsourcing will always be good for every member of a society.
• D) no one will complain in the short run, but in the long run people may not like the transition.

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