Which of the Following Statements Is True

question 139

Multiple Choice

Which of the following statements is true?

• A) Specialization and trade along the lines of comparative advantage allows nations to consume more than if they were to produce just for themselves.
• B) Free trade theory suggests that when trade takes place any gains made by one nation comes at the expense of another.
• C) According to the theory of comparative advantage, a nation should specialize in the production of those goods for which it has an absolute advantage.
• D) All of these.

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Definitions:

P(X > 1)

The probability that a random variable X takes on a value greater than 1.

Speed Limit

A legally established maximum speed at which vehicles may travel on a particular roadway.

P(3 ≤ X ≤ 6)

Represents the probability that the random variable X takes on a value between 3 and 6, inclusive.

Montana Highways

Refers to the network of roads and highways located within the state of Montana, possibly in the context of a study or report.