A Country That Does Not Engage in Trade Can Benefit

question 3

Multiple Choice

A country that does not engage in trade can benefit from trade only if

• A) pre-trade and free-trade relative prices are not identical.
• B) it employs a unique technology.
• C) it has an absolute advantage in at least one good.
• D) its wage rate is below the world average.
• E) pre-trade and free-trade relative prices are identical.

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Definitions:

Functional Age

An assessment of an individual's ability to perform tasks and roles expected of someone of their chronological age, often related to their physical, psychological, and social capabilities.

Reflexes

Involuntary and nearly instantaneous movements in response to a stimulus.

Gross Motor Skills

The abilities required to control the large muscles of the body for walking, jumping, balancing, and other physical activities.

Hippocampus

A region of the brain that is associated with memory formation, learning, and spatial navigation.