A Country Has a Comparative Advantage in a Good If

question 133

Multiple Choice

A country has a comparative advantage in a good if

• A)It can produce more of the good than another country.
• B)It can produce a good at a lower opportunity cost relative to another country.
• C)It can specialize only in two goods.
• D)It also has an absolute advantage in the production of the gooD.A country has a comparative advantage in a good or service if it can produce it at a lower opportunity cost compared to another country.

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Definitions:

Emotion

Complex psychological states involving three distinct components: a subjective experience, a physiological response, and a behavioral or expressive response.

Absolute Thresholds

The minimum intensity of stimulation that must occur before you experience a sensation, varying across sensory modalities.

Weber's Law

A principle that states the smallest change in a stimulus that can be detected is a constant proportion of the original stimulus.

Sensory Adaptation

The process by which a person becomes less sensitive to a stimulus after prolonged exposure.