A Country Has a Comparative Advantage in a Product If

question 38

Multiple Choice

A country has a comparative advantage in a product if the world price is

• A)lower than that country's domestic price without trade.
• B)higher than that country's domestic price without trade.
• C)equal to that country's domestic price without trade.
• D)not subject to manipulation by organizations that govern international trade.

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Definitions:

Personnel Department

The department within a company responsible for the management of employee-related processes such as hiring, administration, and training.

Federal

Relating to the national government of a country, as opposed to local or state government.

Labor Relations

The study and practice of managing unionized employment situations, including negotiations between employers and unions regarding wages, working conditions, and other employment terms.

Labor Unions

Organizations that represent workers in negotiating with employers over wages, working conditions, and rights.