Which of the Following Statements Is True

question 81

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) One country can have the comparative advantage in both goods, but it can only have the absolute advantage in one good as long as the opportunity costs are different.

Understand the concept and application of blocking in experimental design.

Comprehend the role and necessity of blinding in experiments.

Identify different types of experimental designs.

Grasp the principles behind the use of incentives in experiments and their potential effects.

---

Definitions:

Workers' Compensation

An insurance scheme designed to provide medical assistance and compensate for lost wages to employees injured during their work.

General Journal

A primary accounting record where financial transactions are recorded in chronological order, before being posted to specific accounts in the general ledger.

Normal Balance

The account side (either debit or credit) that documents the account's increases, based on the type of account.

Financial Statement

Official documentation of a business, individual, or entity's financial transactions and status.