A Person Who Has an Absolute Advantage in the Production

question 122

Multiple Choice

A person who has an absolute advantage in the production of all goods will

• A)also have a comparative advantage in the production of all goods.
• B)not be able to gain from specialization and trade.
• C)produce all goods at the lowest opportunity cost.
• D)not have a comparative advantage in the production of any goods.
• E)have a comparative advantage in the production of only some goods and not others.

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Definitions:

Systematic Desensitization

A behavior therapy used to reduce phobic reactions through gradual exposure to feared stimuli or situations combined with relaxation techniques or coping mechanisms.

Traumatic

Pertaining to or resulting from an event that causes severe emotional stress or physical injury.

Modeling

A learning method in which individuals learn by observing and imitating the behaviors of others.

Observation

The active acquisition of information from a primary source using the senses or specialized scientific equipment.