Which Statement Is True

question 113

Multiple Choice

Which statement is true?

• A)Comparative advantage and absolute advantage are identical terms.
• B)A country can have a comparative advantage without having an absolute advantage.
• C)The U.S.has a comparative advantage and an absolute advantage with nearly all of its trading partners.
• D)Trade cannot take place unless each trading partner has an absolute advantage in the production of the good or service that it is trading.

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Definitions:

Sense of Achievement

The feeling or satisfaction one experiences upon meeting a goal, completing a task, or accomplishing something of value.

Recognition

The acknowledgment of someone's achievement, effort, or qualities by others.

Need for Personal Power

A psychological drive or motivation for individuals to gain influence or control over others and their environment.

Managerial Leadership

The process of influencing others to understand and agree about what needs to be done and how to do it, and the process of facilitating individual and collective efforts to accomplish shared objectives.