Adam Smith would favor:
A) self-sufficiency
B) each nation producing all goods for the citizens
C) specialization and gains from trade
D) economic independence for each region
Correct Answer:
Verified
Q1: The trade of food across international borders
Q2: Free trade
A) is good for exporters
B) is
Q3: Adam Smith suggested the idea of:
A) absolute
Q5: California agriculture is the most productive in
Q6: Local food is a good example of:
A)
Q7: Absolute advantage is:
A) lowest opportunity costs
B) political
Q8: Comparative advantage is:
A) lowest opportunity costs
B) political
Q9: Trade occurs due to:
A) arbitrage
B) differences in
Q10: If two nations were identical:
A) both nations
Q11: Trade will have the largest impact when:
A)
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