If wages in Malaysia are lower than wages in the U.S., then it will cost less to produce virtually any product in Malaysia.
Correct Answer:
Verified
Q74: Comparative advantage is based on the opportunity
Q75: World output will be maximized when each
Q76: The labor theory of value assumes that
Q77: Comparative advantage only applies to international trade.
Q78: If the dollar cost of labor in
Q80: A country with high wages cannot compete
Q81: A country should never produce a good
Q82: A country should never export a product
Q83: The dynamic gains from trade and the
Q84: The static gains from trade are the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents