Suppose the opportunity costs of production of goods differ between two countries. Which of the following statements is true?
A) It will not be possible for either country to gain from trading with the other.
B) If each country specializes and trades with the other, there will be an increase in the
C) Each country should produce all the goods to promote self-sufficiency.
D) Neither country will have a comparative advantage in the production in any of the goods.
Correct Answer:
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Q1: Which of the following is a non-economic
Q2: Which of the following is likely to
Q3: Which of the following statements is correct?
A)
Q4: Which of the following is a reason
Q5: Which of the following is an economic
Q7: What does the terms of trade measure?
A)
Q8: The nation of Chromia exports certain types
Q9: Suppose country Zoravia can produce 1 unit
Q10: If the country of Zebina has a
Q11: Which of the following is likely to
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