The logic of why international trade increases well-being is
A)a major revision of the logic of why trade within a country increases well-being.
B)completely different from the logic of why trade within a country increases well-being.
C)a narrow, special case of the logic of why trade within a country increases well-being.
D)no different from the logic of why trade within a country increases well-being.

Question

Quizplus · Accepted Answer

The logic of why international trade increases well-being is not completely different from the logic of why trade within a country increases well-being. In fact, it is no different because both types of trade help to increase the productivity and efficiency of countries by allowing them to specialize in what they do best and trade with other countries for goods and services that they cannot produce as efficiently. This, in turn, leads to lower prices and greater availability of goods and services for consumers, which increases their well-being. Therefore, choice D is the best answer.

The Logic of Why International Trade Increases Well-Being Is