Even if there are big gains to be had from specialization and trade, countries generally don't produce only one good because:
A) specialization is not limited by trade agreements.
B) no national economy is a perfectly free market.
C) there is perfectly free trade between national economies.
D) consumers prefer a mix of goods and services.
Correct Answer:
Verified
Q21: Technology or production processes developed in a
Q22: When a country gains from trade:
A)everyone in
Q23: Which of the following statements is true
Q24: An important determinant of comparative advantage is:
A)diversity
Q25: Once a new technology spreads and is
Q27: A country may gain a temporary comparative
Q28: Which of the following does not affect
Q29: An economy that is self-contained and does
Q30: As the workforce in a country with
Q31: Over time, technology tends to:
A)set countries apart
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