According to Smith,countries Should Specialize in the Production of Goods

question 94

Multiple Choice

According to Smith,countries should specialize in the production of goods for which they have an absolute advantage and then:

• A)retain these goods for strict domestic sales.
• B)trade these goods for goods produced by other countries.
• C)sell these goods to maintain a trade surplus.
• D)prohibit the import of these goods from other countries.

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Definitions:

Desensitization

This refers to the process by which individuals become less sensitive or react less intensely to repeated stimuli or emotional triggers.

Priming Aggressive Thoughts

A process by which exposure to certain stimuli can increase the likelihood of aggressive responses in individuals.

Mere Exposure Effect

The Mere Exposure Effect is a psychological phenomenon by which people tend to develop a preference for things merely because they are familiar with them.

Alphabetical Order

A system of sorting according to the sequence of letters in the alphabet.