Assume, for the U

question 138

Multiple Choice

Assume, for the U.S., that the domestic price of beef without international trade is lower than the world price of beef. This suggests that with trade,

• A) the U.S. has a comparative advantage in the production of beef over other countries and the U.S. will export beef.
• B) the U.S. has a comparative advantage in the production of beef over other countries and the U.S. will import beef.
• C) other countries have a comparative advantage over the U.S. in the production of beef and the U.S. will export beef.
• D) other countries have a comparative advantage over the U.S. in the production of beef and the U.S. will import beef.

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Definitions:

Technological Impact

The effect of technology on society and the environment, which can be positive, negative, or neutral.

Consumption Per Person

The average amount of a resource, product, or energy used by a single individual, often used to assess lifestyle impacts on the environment or to gauge economic activity.

Biodiversity Degradation

The reduction or loss of biodiversity from ecosystems, typically due to human activities like deforestation, pollution, and climate change.

Poverty

A socio-economic condition characterized by a lack of resources or income that is sufficient to meet basic living needs.