Differences in the Productivity of Labor Account for Comparative Advantage

question 26

Multiple Choice

Differences in the productivity of labor account for comparative advantage if:

• A)the minimum wage varies across the countries.
• B)the size of the domestic market varies across the countries.
• C)different countries have differences in labor hours required to produce each good.
• D)the strength of workforce varies across countries.
• E)the laborers are paid different wages in different countries.

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Definitions:

Learning Approach

A methodology or strategy employed in education and psychology to facilitate the acquisition of knowledge or skills.

Sociocultural

Relating to the combined influences of social and cultural factors on an individual or group.

Cognitive

Relating to mental processes such as perception, memory, thinking, and problem-solving.

Psychodynamic

A psychological perspective that emphasizes the influence of the unconscious mind on behavior and the importance of childhood experiences.