When Nations Specialize According to Their Comparative Advantage

question 100

Multiple Choice

When nations specialize according to their comparative advantage

• A) Total production and consumption in the world increase.
• B) Consumption rises in one country but must fall in all others.
• C) Total world production rises but total consumption in the world declines.
• D) none of the above

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Definitions:

Union Density

The number of union members in a given location and time as a percentage of nonfarm workers. It measures the organizational power of unions.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence among global societies.

Union Density

The proportion of a workforce that is a member of a labor union, often used as an indicator of the strength and presence of organized labor within a sector or economy.

Big Strikes

Significant labor strikes involving a large number of workers, often having a wide impact on industries or economies.