If a Country Has a Comparative Advantage in the Production

question 7

Multiple Choice

If a country has a comparative advantage in the production of all goods,it should:

• A)specialise in the production of goods with the lowest opportunity cost.
• B)specialise in the production of goods with the highest opportunity cost.
• C)specialise in the production of goods with the absolute advantage.
• D)specialise in the production of goods without the absolute advantage.
• E)not specialise at all and produce all the goods itself.

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Definitions:

Genetically Influenced

Traits or characteristics that are shaped in part by genetic factors.

Personality Inventories

Standardized assessments designed to evaluate various aspects of a person's personality traits and characteristics.

Objectivity

The quality of being unbiased, unprejudiced, and based on facts rather than feelings or opinions.

Characteristic Patterns

Distinctive behaviors, thoughts, or emotions that are typical for an individual or group, often forming a recognizable profile.