According to the principle of comparative advantage, it may be efficient for a country to export a good or service for which it has an absolute disadvantage.
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Q10: Although the nation as a whole benefits
Q11: Through specialization and trade, the supply of
Q12: According to the principle of comparative advantage,
Q13: It is possible for a high-wage country
Q14: Comparative advantage underlies the gains from trade
Q16: If Canada and Mexico have identical opportunity
Q17: When compared to quotas, tariffs have a
Q18: Trade restrictions tend to reduce competition and
Q19: To maximize its gains from trade, the
Q20: Assume that wages in the U.S. are
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