A Country ________ When It Decides to Use Its Resources

question 68

Multiple Choice

A country ________ when it decides to use its resources to produce only the product in which it has an absolute advantage.

• A) monopolizes
• B) specializes
• C) rejects trade
• D) globalizes
• E) achieves equilibrium

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Definitions:

Operating Expense

Expenses incurred during normal business operations, such as rent, utilities, and payroll, excluding costs associated with the production of goods sold.

Administrative Expenses

Expenses related to the general operation of a business, such as salaries of non-sales personnel, office supplies, and rent.

Research and Development Expense

Costs associated with the research and development of a company's products or services, recognized as an expense.

Interest Expense

The cost associated with an entity's borrowing of funds during a specific time interval.