Comparative Advantage Indicates That

question 115

Multiple Choice

Comparative advantage indicates that:

• A) specialization and exchange will permit trading partners to maximize their joint consumption.
• B) a nation can gain from trade only if it is not at an absolute disadvantage in producing all goods.
• C) a nation can gain from trade only when its trading partners are not low-wage countries.
• D) countries should export products for which they are high-opportunity cost producers.

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Definitions:

Passive Behavior

A pattern of avoiding direct communication, conflict, or confrontation, often characterized by compliance, avoidance of responsibility, and failing to express one’s own needs or preferences.

Vroom-Yetton-Jago

A decision-making model that helps leaders determine the appropriate level of employee participation in decision making based on situational variables.

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives to achieve a desired outcome.

Participation

The act of taking part or being involved in a particular activity, process, or decision-making.