In a Two Good, Two-Country World, a Country Has a Comparative

question 189

Multiple Choice

In a two good, two-country world, a country has a comparative advantage in any good for which it has a:

• A) lower absolute cost than the other country.
• B) lower opportunity cost than the other country.
• C) higher absolute cost than the other country.
• D) higher opportunity cost than the other country.

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Definitions:

Extended Vacations

Extended vacations refer to prolonged periods of leisure time taken off work, beyond the typical vacation length, allowing for extended rest, travel, or personal pursuits.

Small to Mid-Sized

Refers to organizations or businesses that typically have a limited number of employees or revenue, falling between small and medium-sized thresholds.

Entrepreneurial Culture

An organizational culture that fosters innovation, risk-taking, and proactive behavior aimed at achieving competitive advantage and growth.

Multiple Cultures

The existence or coexistence of various cultures within a single social or organizational setting, leading to a diverse environment.