Which of the Following Describes Comparative Advantage

question 339

Multiple Choice

Which of the following describes comparative advantage?

• A) To produce a bushel of wheat Farmer John must give up 2 bushels of corn whereas Farmer Ben must give up 3 bushels of corn.
• B) Company A can produce 4 boxes of cereal in a day whereas Company B can produce 5 boxes of cereal in a day.
• C) Firm A can produce a good at a cost of $3 and Firm B can produce the good at a cost of $4.
• D) Jane can type 50 words per minute and Joe can type 60 words per minute.

Understand the process and effects of operant extinction

Comprehend the concept of primary and secondary reinforcers

Explain the impact of reinforcement schedules on behavior

Understand the concepts of shaping and successive approximations in behavior modification

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by the gross domestic product (GDP).

Financial Security

A condition of having stable income or resources sufficient to meet current and future needs.

UCC

Stands for Uniform Commercial Code, a set of laws that provide legal rules and regulations governing commercial or business dealings and transactions.

Congress

The bicameral legislature of the Federal Government of the United States, consisting of the House of Representatives and the Senate.