The principles of comparative advantage and specialization only apply to trade between different nations.
Correct Answer:
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Q29: For country A,an import is a good
Q36: An import is a product
A) produced in
Q37: Specialization and exchange result from differences in
Q38: Outsourcing allows a company to take advantage
Q40: Trade results from
A) comparative advantage.
B) absolute advantage.
C)
Q41: If a person has a comparative advantage
Q42: A comparative advantage is the ability of
Q43: When a U.S. company shifts some of
Q45: If Libby can produce 20 gallons of
Q53: If a person has an absolute advantage
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