If Domestic Producers Have a Comparative Advantage in Producing a Good

question 43

Multiple Choice

If domestic producers have a comparative advantage in producing a good,

• A) trade restrictions will be required before the producers can benefit from their comparative advantage.
• B) trade restrictions will still be required before the domestic producers can compete with low-wage producers abroad.
• C) they will be able to compete effectively in a competitive world market.
• D) the government should subsidize production of the good so the domestic producers will be able to achieve a larger share of the world market.

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Definitions:

Acquisition

The process by which one company takes over another company, either by purchasing its assets, shares, or both, to assume control.

Consolidated Net Income

The total net income of a parent company and its subsidiaries, after the elimination of intercompany transactions, reflecting the combined profitability of the entire corporate group.

Par Value

The face value of a bond or the stated value of a stock as specified by the issuing company.

Fair Value

The monetary return from an asset's sale or the expenditure for transferring a liability in an orderly market dialogue on the assigned valuation day.