The Law of Comparative Advantage Implies That a Nation, Individual

question 52

Multiple Choice

The law of comparative advantage implies that a nation, individual, or region should trade for those economic goods for which it

• A) has an absolute advantage.
• B) has a comparative advantage.
• C) is a low opportunity cost producer.
• D) is a high opportunity cost producer.

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Definitions:

"New" Immigrants

Term used primarily to describe the wave of immigrants coming to the United States from Southern and Eastern Europe during the late 19th and early 20th centuries.

Lynch Law

describes the practice of punishment, often execution, undertaken by a mob without legal authority or due process, typically associated with racial violence in the United States.

Government Stance

An official position or policy adopted by a government on an issue.

Lynchings

Extrajudicial killings predominantly targeting African Americans, carried out by mobs with the intent of instilling fear and exerting racial control, prominent in the US South from the late 19th to mid-20th century.