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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 9
Circle the letter that corresponds to the best answer. Which statement is true?
A) Comparative advantage is not necessary for trade to take place, but absolute advantage is.
B) Absolute advantage is not necessary for trade to take place, but comparative advantage is.
C) Both absolute and comparative advantage are necessary for trade to take place.
D) Neither absolute nor comparative advantage is necessary for trade to take place.
A) Comparative advantage is not necessary for trade to take place, but absolute advantage is.
B) Absolute advantage is not necessary for trade to take place, but comparative advantage is.
C) Both absolute and comparative advantage are necessary for trade to take place.
D) Neither absolute nor comparative advantage is necessary for trade to take place.
Explanation
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Comparative advantage is defined as the ...
Macroeconomics 11th Edition by Stephen Slavin
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