If All We Know Is That the Opportunity Cost of a Car

question 35

Multiple Choice

If all we know is that the opportunity cost of a car equals 100 refrigerators in France,and 200 refrigerators in Italy,we can conclude

• A)nothing about which nation has the absolute advantage in refrigerator production
• B)that France has a comparative advantage in refrigerator production
• C)that mutually beneficial international trade might involve the market exchange of 1 car for 80 refrigerators (whereby France would gain more than Italy)
• D)that mutually beneficial international trade might involve the market exchange of 1 car for 300 refrigerators (whereby Italy would gain more than France)
• E)that France has the absolute advantage in car production

Critique the limitations and criticisms of different social psychology theories and perspectives.

Explain the concepts of schemas, norms, equity, and status in social interactions.

Explore the methodological approaches and critiques in social psychology research.

Understand the different social psychological perspectives and their applications in analyzing social behaviors.

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Definitions:

Trait Viewpoint

A perspective in leadership theory that suggests certain inherent personality traits and characteristics can make an individual a good leader.

Process

A series of actions or steps taken in order to achieve a particular end.

Management

The process of dealing with or controlling things or people, often within an organization.

Ethical Responsibility

The duty to act in a morally right way, considering the impact of one's actions on others and society.