Adam Smith Recognized the Benefits from Trade Based on ____

question 33

Multiple Choice

Adam Smith recognized the benefits from trade based on ____, and David Ricardo recognized the benefits from trade based on ____.

• A)comparative advantage; resource endowments
• B)absolute advantage; comparative advantage
• C)absolute advantage; resource endowments
• D)comparative advantage; absolute advantage

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Definitions:

Positive Reinforcement

A technique in behaviorism where the introduction of a rewarding stimulus following a desired behavior increases the likelihood of it being repeated.

Snake Phobia

An intense, irrational fear of snakes, often leading to avoidance behavior.

Significant Distress

A level of emotional pain or suffering that significantly impacts an individual’s daily functioning or quality of life.

Reinforcement Schedule

A plan or rule that determines how often a behavior is reinforced, influencing how quickly and how strong a behavior is learned.