Statement I: the Law of Comparative Advantage States That Total

question 254

Multiple Choice

Statement I: The law of comparative advantage states that total output is greatest when each product is made by the country that has the lowest opportunity cost.
Statement II: Absolute advantage is not necessary for trade to take place,but comparative advantage is.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

Understand the correlation between job satisfaction and job performance.

Define and differentiate between internal tendencies and external stimuli in actions.

Understand the varied stereotypes and their representation in media and culture.

Recognize the impact of weight and race discrimination increasing in society.

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Definitions:

Norms

The specific cultural expectations for how to act in a given situation.

Moral and Ethical Behavior

Conduct guided by principles concerning the distinction between right and wrong or good and bad behavior within a societal context.

Language

A method of exchange involving words, structured in an accepted manner, utilized by a specific community or nation.

Perception of Reality

How individuals interpret and make sense of their experiences, environments, and the world around them, influenced by their beliefs and social contexts.