One country has an absolute advantage over another country if it can produce a good using smaller quantities of resources.
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Q7: Unequal distribution of resources is one of
Q8: The U.S.Constitution prevents tariffs on trade between
Q10: Specialization is the concept of devoting resources
Q12: Wages in most other countries have increased
Q13: Countries that are unable to produce goods
Q14: Voluntary exchange is based on the principle
Q16: One nation can gain from an exchange
Q18: Absolute advantage states that a country has
Q19: Capital, labor, and other factors of production
Q20: Specialization is a major obstacle to international
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