Which of the following statements is not true?
A) Trade is beneficial because it allows everyone to have a higher standard of living.
B) Trade is beneficial because it allows consumption beyond the production possibility frontier.
C) Trade is beneficial because it allows more efficient production.
D) Trade is beneficial because it allows consumers to buy goods at cheaper prices.
Correct Answer:
Verified
Q3: If Argentina has an absolute advantage in
Q4: Sweaters are produced using wool and labour.
Q5: A country enjoys a comparative advantage in
Q6: For a given amount of resources, Japan
Q7: A variety of factors can make trade
Q9: Which of the following statements is false?
Q10: Which of the following would be classed
Q11: Which of the following is not a
Q12: It costs a computer manufacturer £2000 to
Q13: When exports are sold at a price
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