A Nation Has a Comparative Advantage Over a Trading Partner

question 50

Multiple Choice

A nation has a comparative advantage over a trading partner in the production of good A if it

• A)produces good A at a lower opportunity cost per unit than its trading partner.
• B)can produce good A with the same resources as its trading partner but in less time.
• C)can match its trading partner's output of good A and have resources left over.
• D)has an absolute advantage over its trading partner.
• E)produces good A with fewer material inputs than its trading partner.

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Definitions:

Attitude

An attitude is a psychological construct that represents an individual's degree of like or dislike for an item, concept, or group, influencing behavior and perceptions.

Three-Component Model

A framework in psychology that analyses an attitude based on three distinct components: cognitive, affective, and behavioral.

Behaviour

The actions or reactions of an object or organism, often in relation to the environment or stimuli.

Implicit Measures

are assessment tools used to uncover attitudes and beliefs that individuals may be unaware of or unwilling to express, typically revealing unconscious biases.