Based on the Theory of Comparative Advantage,nations Maximize Their Well-Being

question 64

Multiple Choice

Based on the theory of comparative advantage,nations maximize their well-being when they

• A)create more jobs.
• B)allocate resources more efficiently.
• C)increase trade surpluses.
• D)increase exports.

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Definitions:

Immigration

Or in-migration, is the inflow of people into one country from one or more other countries and their settlement in the destination country.

Overpopulation

A condition where the number of individuals exceeds the carrying capacity of their habitat, leading to environmental and social issues.

Marx

Karl Marx, a 19th-century philosopher, economist, and revolutionary, known for his theories about capitalism and communism.

Demographic Transition Theory

A theory that describes the transition from high birth and death rates to lower birth and death rates as a country develops from a pre-industrial to an industrialized economic system.