The Idea of Comparative Advantage Is That

question 28

Multiple Choice

The idea of comparative advantage is that:

• A)each country can gain from trade as long as the opportunity cost of producing one good compared with another good is different between countries.
• B)every country can gain from trade as long as all countries can produce roughly the same quantity of each good.
• C)every country can gain from trade as long as the opportunity cost of producing one good compared with another good is the same as for other countries.
• D)every country can gain from trade as long as the absolute amount of exports equals imports.

Recognize the principles and experiments of Solomon Asch related to conformity and social pressures.

Distinguish between obedience, conformity, compliance, and groupthink, and understand their implications in social contexts.

Identify factors that influence the rate of conformity, including group size, task difficulty, and presence of dissent.

Explain the psychological mechanisms behind groupthink, its occurrence, and its impact on decision-making.

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