If an Economist Develops a Theory About International Trade Based

question 165

Multiple Choice

If an economist develops a theory about international trade based on the assumption that there are only two countries and two goods, what is most likely?

• A) The theory can be useful only in situations involving two countries and two goods.
• B) It is a total waste of time, since the actual world has many countries trading many goods.
• C) The theory can be useful in helping economists understand the complex world of international trade involving many countries and many goods.
• D) The theory can be useful in the classroom but has no use in the real world.

Identify strategies to reduce and avoid groupthink.

Understand the importance of effective group rules or norms in teamwork.

Learn approaches to address problem behaviors within a group.

Recognize key patterns and factors that contribute to team success.

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Definitions:

Fill In

A phrase often used in education and testing to describe a task where the respondent must complete or provide missing information.

Combine

The act of merging or bringing things together to form a whole, often used in mathematics to refer to combining like terms or equations.

Simplify

To alter an expression into its most reduced or simplest form, making it easier to understand or solve.

Least Common Multiple

The smallest positive integer that is a multiple of two or more integers.