Gains from trade is the:
A) increase in welfare that both countries experience as a result of specialization and trade.
B) transfer of surplus by the receiving country that results from trade.
C) deadweight loss the losing country experiences as a result of trade.
D) increased skills and human capital that result from specialization and trade.
Correct Answer:
Verified
Q9: If Spain sells soccer balls to the
Q10: Which of the following is not an
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
Q15: Only a firm with _ at producing
Q16: The increase in welfare, in both countries'
Q17: Which of the following is true about
Q18: Both countries can benefit from trade when:
A)at
Q19: If England buys hockey sticks from Canada,
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