Since Production Has Shifted to More Efficient Producers Due to Comparative

question 8

Multiple Choice

Since production has shifted to more efficient producers due to comparative advantage, consumers in Country X have had access to more goods at lower prices.Which of the following most likely exists?

• A)trade specialization
• B)trade diversion
• C)trade creation
• D)trade internalization

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Definitions:

Family and Medical Leave Act

U.S. federal law that provides employees with unpaid, job-protected leave for specified family and medical reasons.

Industrialized Nations

Countries that have undergone significant industrialization and now have a predominantly tertiary (service) and quaternary (knowledge-based) economy.

Tuition Reimbursement Program

An employer-provided benefit that pays for or reimburses employees for tuition expenses related to furthering their education.

Knowledge

Facts, information, and skills acquired through experience or education.