Suppose Haiti Has an Absolute Advantage Over Other Countries in Producing

question 308

Multiple Choice

Suppose Haiti has an absolute advantage over other countries in producing oranges,but other countries have a comparative advantage over Haiti in producing oranges.If trade in oranges is allowed,Haiti

• A) will import oranges.
• B) will export oranges.
• C) will either export oranges or export oranges, but it is not clear from the given information.
• D) would have nothing to gain either from exporting or importing oranges.

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Definitions:

Culture Shock

The sense of confusion, uncertainty, or anxiety experienced by someone exposed to an unfamiliar culture or way of life.

Compensation

Payment or rewards given to employees in exchange for their services or labor.

Standard Of Living

The degree of wealth, comfort, material goods, and necessities available to a person, group, or nation.

Relocation Expenses

Costs associated with moving and adjusting to a new location when a job requires geographical change, often covered or reimbursed by the employer.