In a Two-Nation, Two-Good World, Which of the Following Statements

question 172

Multiple Choice

In a two-nation, two-good world, which of the following statements is true?

• A) One nation cannot possibly have an absolute advantage over the other nation in both products.
• B) If one nation has the comparative advantage in one product, then the other nation would have the comparative advantage in the other product.
• C) One nation will always have the comparative advantage over the other nation in one of the products.
• D) If one nation has the absolute advantage in one product, then the other nation would have the absolute advantage in the other product.

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Definitions:

Business Ethics

The study and examination of moral and ethical problems that arise in a business environment.

Organizational Factors

Elements within an organization that can influence its behavior and culture, such as leadership, communication patterns, and organizational structure.

Individual Factors

Personal characteristics or attributes of an individual that influence behavior and decision-making within various contexts.

Relativist Perspective

The viewpoint that ethical principles and moral or ethical values vary with and depend upon the social, cultural, or historical context.