If Nation a Has an Absolute Advantage Over Nation B

question 99

Multiple Choice

If nation A has an absolute advantage over nation B in the production of a product, this implies that

• A) it requires fewer resources in A to produce the good than in B.
• B) the cost of producing the good in terms of some other good's production that must be sacrificed is lower in A than in B.
• C) nation B could not benefit by engaging in trade with A.
• D) nation A should acquire this product by trading with B.
• E) nation A could not benefit by engaging in trade with B.

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Definitions:

Episodic Memory

A type of long-term memory that involves the recollection of specific events, situations, and experiences.

Recognition Memory

The ability to recognize previously encountered events, objects, or people.

Memory Strategies

Techniques and methods used to enhance and improve memory retention and recall.

Cognitive Activities

Activities that engage the brain in processing information, such as thinking, learning, and memory, which are crucial for problem-solving and understanding.