Trade occurs due to:
A) arbitrage
B) differences in climate and productivity
C) comparative advantage
D) all of the other answers
Correct Answer:
Verified
Q4: Adam Smith would favor:
A) self-sufficiency
B) each nation
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
Q10: If two nations were identical:
A) both nations
Q11: Trade will have the largest impact when:
A)
Q12: Agricultural trade with the US is most
Q13: Workers with good people skills will benefit
Q14: The theory of comparative advantage is due
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