The principle of relative advantage suggests that a country should produce a product with the least comparative disadvantage.
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Q3: If one nation has absolute advantage for
Q4: As long as the domestic exchange ratio
Q5: If the domestic exchange ratio of the
Q6: According to the principle of relative advantage,
Q7: Relative production costs can determine whether trade
Q9: Because of trade, the two different domestic
Q10: International trade is a function of the
Q11: A country that has absolute advantage in
Q12: Comparative advantage is a dynamic concept.
Q13: One basic assumption of the principles of
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