The Existence of "Absolute Advantage

question 85

Multiple Choice

The existence of "absolute advantage"

• A)implies that there will be no benefits from trade between two nations.
• B)refers to a situation where one country can produce one unit of a given product with fewer resources than the other country.
• C)fosters the self-sufficiency of nations.
• D)refers to a situation where one country can produce one unit of all goods with fewer resources than can another country.
• E)is not physically possible.

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Definitions:

Self-Efficacy

A person's confidence in their ability to perform actions required to achieve certain outcomes.

Collective Efficacy

The shared belief in a group's collective ability to organize and execute the courses of action required to achieve given goals.

Team Cohesion

The extent to which members of a team are united in pursuing common goals and how attracted they are to the team and its activities.

Antecedents

Events or conditions that precede and influence behavior, actions, or outcomes.