Which of the Following Is True About the Theory of Absolute

question 32

Multiple Choice

Which of the following is true about the theory of absolute advantage?

• A) The theory accepts the mercantilist idea that international trade is a zero-sum game.
• B) The theory approves the objective of national governments to acquire wealth through restrictive trade policies.
• C) The theory emphasizes that nations should open their doors to trade so that people can obtain more goods at cheaper rates.
• D) The theory measures a nation's wealth by how much gold and silver it has on reserve.

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Definitions:

Distribution

In statistics, the way in which values of a variable are spread or dispersed across a set of data.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values from the mean.

Variability

The measure of how data points in a statistical distribution or dataset diverge from the average or mean value.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution of data, commonly exemplified by the mean, median, or mode.