Gains from trade can occur when a society _____ products when the domestic price is _____ the world price.
A) imports; higher than
B) imports; equal to
C) exports; higher than
D) exports; equal to
Correct Answer:
Verified
Q49: The _ price occurs under self-sufficiency and
Q50: The _ price is determined by global
Q51: When the world price of a product
Q52: With international trade, a higher world price
Q53: Society as a whole benefits from _
Q55: When the world price is lower than
Q56: Complete specialization by countries does not occur
Q57: _ are goods that cannot be cost-effectively
Q58: Italy's production of exotic sports cars is
Q59: The inability of a haircut to be
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