For Any Country,if the World Price of Zinc Is Higher

question 246

Multiple Choice

For any country,if the world price of zinc is higher than the domestic price of zinc without trade,that country should

• A) export zinc, since that country has a comparative advantage in zinc.
• B) import zinc, since that country has a comparative advantage in zinc.
• C) neither export nor import zinc, since that country cannot gain from trade.
• D) neither export nor import zinc, since that country already produces zinc at a low cost compared to other countries.

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Definitions:

High-Variation Population

A population with a wide range of characteristics or outcomes, indicating significant diversity or differences among its members.

Sample Size

The number of observations or data points used in a statistical sample, which determines the accuracy and reliability of the study's findings.

Statistically Significant

A measure indicating that the likelihood that a result or relationship is caused by something other than mere random chance is high.

Newly Hired

Refers to workers who have recently been employed by an organization, typically implying their adjustment and integration period.