The reason why countries trade can best be summarized by which of the following statements?
A) International trade allows countries that are labor intensive to employ their labor force.
B) International trade allows countries that are capital intensive to employ their manufacturing plants.
C) International trade generates benefits to the trading partners who have comparative advantage in production.
D) International trade generates benefits to the trading partners who have absolute advantage in production.
Correct Answer:
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Q13: Use the graph below to answer questions
Q14: Goods and services produced abroad but sold
Q15: A country has absolute advantage in production
Q16: According to the graph which of the
Q17: The largest category of U.S.goods exported is
A)Capital
Q19: The terms of trade reflects
A)How imports affects
Q20: You and your neighbor both can bake
Q21: One effect of a quota is
A)A reduction
Q22: Exporting goods and services for the domestic
Q23: Which of the following statements represent an
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