Comparative Advantage Is Determined by the

question 91

Multiple Choice

Comparative advantage is determined by the

• A)elasticities of demand for a good in two countries
• B)opportunity costs of producing a good in two different countries
• C)presence of absolute advantages in production
• D)degrees of allocative efficiency within each economy
• E)amounts of resources required to produce a good in different countries

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Definitions:

Convenience Sampling

A nonprobability method of sampling whereby elements are selected for the sample on the basis of convenience.

Nonprobabilistic Sampling

A sampling method where the elements of the population do not have a known or equal chance of being selected.

Probabilistic

Pertaining to the use of or grounded in the theory of probability and the randomness of outcomes.

Stratified

A sampling method that involves dividing a population into smaller groups, known as strata, that share similar characteristics.