Suppose that Mexico has an absolute advantage in all agricultural products, due to favorable climate and low labor costs.
A) the US will not benefit from trade with Mexico
B) the US will desire to trade with Mexico, but Mexico would not gain from trade
C) Mexico will desire to trade with the US, but the US would not gain from trade
D) the US could benefit from trade with Mexico
Correct Answer:
Verified
Q17: Economists recommend:
A) self-sufficiency in oil and energy
B)
Q18: When working with a group, there are
Q19: When working with a group, there are
Q20: In most group work, the best results
Q21: Specialization and trade occurs in:
A) market economies
B)
Q23: Agricultural goods will always be produced:
A) in
Q24: California has an absolute advantage in almost
Q25: Goods will flow:
A) from areas of high
Q26: Free trade is most beneficial:
A) when all
Q27: Specialization and gains from trade result in:
A)
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