All of the following statements are correct except:
A) International trade brings higher living standards by permitting greater specialization.
B) In the short run, all individuals benefit from international trade.
C) A country will always have a comparative advantage in something.
D) Self-sufficiency on the part of a nation will lower the real income levels of its inhabitants.
Correct Answer:
Verified
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Q39: Q40: Q41: Which of the following statements is false? Q43: If the nation of Alpha enjoys an Q44: The simple model of comparative advantage emphasizes Q45: The law of comparative advantage states that Q46: When countries specialize in producing and exporting Q47: International specialization and the gains that result
A)
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