Which of the Following Statements Is TRUE? I

question 146

Multiple Choice

Which of the following statements is TRUE? I. It is virtually impossible for a country to be the low-cost producer of all goods and services. II. The benefits of trade depend on absolute advantage, not comparative advantage. III. A country could have a comparative advantage in producing everything.

• A) I and II only
• B) I only
• C) II only
• D) III only

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Definitions:

Incentives

Rewards or bonuses given to employees or teams to motivate performance and achieve specific business outcomes.

Factors

Variables or elements that contribute to a particular outcome or situation; can be economic, social, technological, or of any nature depending on the context.

Incentive Pay

A form of compensation designed to reward employees for achieving specific performance goals or outcomes, typically beyond standard job expectations.

Base Pay

The initial rate of compensation an employee receives in exchange for services, not including benefits, bonuses, or any other potential compensation.