Self-sufficiency is the best way to increase one's material welfare.
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Q15: If South Korea has an absolute advantage
Q16: Comparative advantage, not absolute advantage, determines the
Q17: If producers have different opportunity costs of
Q18: Gain from trade is the increase in
Q19: Specialization means that a country devotes its
Q21: Equilibrium price in international trade is the
Q22: Opportunity cost refers to whatever is given
Q23: The principle of comparative advantage states that
Q24: Large gains from trade are most likely
Q25: Dumping means selling goods in a foreign
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