The Simple Comparative Advantage Model Assumed That Trade

question 97

Multiple Choice

The simple comparative advantage model assumed that trade

• A) changes efficiency with which a country utilizes resources.
• B) changes a country's stock of resources.
• C) allows for dynamic changes in the marketplace.
• D) does not change a country's stock of resources.

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Definitions:

Decimals

Numerical symbols used in the decimal system, involving a point that separates the whole number from the fractional part.

Household Measurement

A system of units used in cooking and for other household tasks, such as cups, tablespoons, and teaspoons.

Apothecary Unit

Historical term referring to a system of measurement used by pharmacists to prepare, mix, and dispense medicinal drugs, now largely replaced by the metric system.

Measurement

The process of obtaining a quantitative comparison between a predefined standard and an unknown quantity.