A Country Has an Absolute Advantage If It Can Produce

question 78

True/False

A country has an absolute advantage if it can produce a good at a lower opportunity cost than its trading partner.

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Definitions:

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered or used but not yet paid for.

Self-Recognition

Awareness of self, usually manifested by the individual’s display of self-directed behavior on viewing her own reflection. For example, a child capable of self-recognition will touch a spot of rouge on her nose when she looks in a mirror rather than touching the mirror.

Self-Esteem

A person’s evaluation of his or her attributes or the positive or negative valence associated with those attributes. In William James’s opinion, self-esteem depends on the number of successes we enjoy relative to our aspirations.