A Proposal That Does Not Increase the Overall Costs to the Agency

question 4

Multiple Choice

A proposal that does not increase the overall costs to the agency is considered:

• A) cost effective.
• B) cost neutral.
• C) marginal.
• D) a cost burden.

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Definitions:

Comparative Advantage Theory

This theory suggests that countries should specialize in producing and exporting goods in which they have a lower opportunity cost than their trade partners.

Import

The practice of acquiring goods or services from outside a nation's borders for resale purposes.

Agricultural Goods

Products derived from agriculture, including crops and livestock, used for food, fuel, feed, and fiber.

Heckscher-Ohlin Theorem

An economic theory stating that countries export what they can most efficiently and abundantly produce, based on their factor endowments of labor and capital.