The Theory of Comparative Advantage Is

question 179

Multiple Choice

The theory of comparative advantage is:

• A) rarely relevant for identifying whether gains from trade can be obtained.
• B) always relevant for identifying whether gains from trade can be obtained.
• C) not true for nations, though it may be true for individuals.
• D) true for nations, but it is not true for business or individuals.

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Definitions:

Hypodermic Needle

A medical tool used for injecting substances under the skin or withdrawing fluids from the body.

Classically Conditioned Fear

A learned response to a previously neutral stimulus that becomes associated with a negative event, leading to fear responses to the stimulus.

Iconic

Describing something or someone as highly recognizable, widely known, and regarded as a symbol of a particular era, genre, or field.

Explicit Memories

Memories that can be consciously recalled, such as facts and events, part of declarative memory.