Comparative Advantage Is

question 196

Multiple Choice

Comparative advantage is

• A)the ability of an individual to specialize and produce a greater amount of some good than can another individual
• B)the number of units of one good given up in order to acquire something
• C)the ability of an individual to produce a good at a lower opportunity cost than some other individual can
• D)an expression for the amount of labor a particular individual needs to produce a fixed amount of capital goods
• E)a reference to an individual having the greatest opportunity cost of producing the good and produces it with the fewest resources

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Definitions:

Correlation

A statistical measure that indicates the extent to which two or more variables fluctuate together, showing the strength and direction of a relationship.

+.86

This could represent a statistical value, such as a correlation coefficient, indicating a strong positive relationship between two variables.

Discriminant Validity

A measure of the extent to which a construct is truly distinct from other constructs by demonstrating low correlations with measures of unrelated constructs.

Depression

A psychiatric condition marked by a constant state of low mood or a lack of enjoyment in activities, which considerably disrupts daily functioning.