The Source of a Nation's Comparative Advantage

question 34

Multiple Choice

The source of a nation's comparative advantage

• A) is created from the mixture of its own labor skills, access to capital, and technology.
• B) is determined by its military capability.
• C) remains constant over time.
• D) is an outdated concept for the 21st century because of the process of globalization.

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Definitions:

Accurate

The degree to which the result of a measurement, calculation, or specification conforms to the correct value or a standard.

Contribution

An addition or support provided to something, often referring to the role or impact one element brings to an overall outcome or project.

Binomial Random Variable

A type of random variable that results from a binomial experiment, defined by a fixed number of trials, two possible outcomes per trial, constant probability of success, and independence between trials.

Random Sample

A sample that ensures each member of the population has an equal chance of being included.