International Trade and Specialization in Comparative Advantage Goods Leads To

question 8

Multiple Choice

International trade and specialization in comparative advantage goods leads to:

• A)job gains in domestic comparative advantage industries and job losses in industries with a comparative disadvantage.
• B)job losses in domestic comparative advantage industries and job gains in industries with a comparative disadvantage.
• C)job gains in domestic comparative advantage industries and job gains in industries with a comparative disadvantage.
• D)job losses in domestic comparative advantage industries and job losses in industries with a comparative disadvantage.

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Definitions:

Evaluating Strategies

The process of assessing the effectiveness and efficiency of different business strategies to meet organizational goals and objectives.

Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other industries to improve performance.

Organizational Standards

Predetermined levels of excellence that an organization seeks to achieve in its operations, products, and services, typically through the implementation of rules, guidelines, and procedures.

Standards

Established rules, criteria, or measures against which products, services, and processes are evaluated to ensure quality, safety, and consistency.