Trade will have the largest impact when:
A) differences between nations are smallest
B) differences between nations eliminated
C) difference between nations are largest
D) differences between nations do not exist
Correct Answer:
Verified
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
Q12: Agricultural trade with the US is most
Q13: Workers with good people skills will benefit
Q14: The theory of comparative advantage is due
Q15: The theory of absolute advantage is due
Q16: Most politicians in the US favor:
A) free
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