Which of the following is not an effect of engaging in international trade?
A) Altered prices in different countries
B) Altered labor markets in different countries
C) Increased number of goods and services we can consume in different countries
D) Less efficient use of resources
Correct Answer:
Verified
Q5: Absolute advantage is the ability to produce:
A)more
Q6: Voluntary exchanges generate:
A)surplus, leaving both participants better
Q7: When a country has the ability to
Q8: When a country has the ability to
Q9: If Spain sells soccer balls to the
Q11: Voluntary exchanges between _ generate surplus.
A)firms
B)countries
C)individuals
D)All of
Q12: When two countries specialize and trade:
A)they both
Q13: Comparative advantage is the ability to produce:
A)more
Q14: Gains from trade is the:
A)increase in welfare
Q15: Only a firm with _ at producing
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