German and Japanese firms are successful in international trade because of their low labor costs.
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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
Q15: Countries can remain competitive in spite of
Q16: country's labor cost may be absolutely high
Q17: Comparative advantage can be determined by abundance
Q18: According to the theory of factor endowment,
Q19: According to the factor endowment theory, a
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