If a Nation Has an Absolute Advantage in the Production

question 109

Multiple Choice

If a nation has an absolute advantage in the production of a good

• A) it can produce that good at a lower opportunity cost than its trading partner
• B) it can produce the good using fewer resources than its trading partner.
• C) it can benefit by restricting imports of that good.
• D) None of these.

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Definitions:

Social Dominance Orientation

A scale that measures an individual’s preference for hierarchical relationships between social groups and the extent to which they support dominance and inequality among these groups.

Authoritarian Submission

A psychological behavior characterized by uncritical acceptance of authority, where individuals submit excessively to figures they perceive as authoritative.

Tolerance For Ambiguity

The ability or willingness of a person to accept and deal with uncertainty or unclear situations without becoming anxious or stressed.

Conventionalism

A belief in or support of ideas and behaviors that are traditional and widely accepted.