In the example in the text, Canada specialized in the production of wheat and Mexico specialized in the production of radios. As a result of specialization:
A) wages increased in Mexico.
B) land was in greater demand in Mexico.
C) land prices fell in Canada.
D) wages increased in Canada.
Correct Answer:
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Q8: If Canada required only two-thirds of the
Q9: The law of comparative advantage proves that:
A)
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Q12: The terms of trade:
A) refer to the
Q14: As a result of specialization in trade:
A)
Q15: To say that Mexico has a comparative
Q16: If Canada specializes in wheat production and
Q17: If Canada specializes in wheat production and
Q18: In the textbook example involving Canada and
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