Specialization should increase total output in the world economy if nations focus on producing goods and services:
A) they need most.
B) their resources produce most efficiently.
C) that can be used to produce other goods and services.
D) such as highways and education, that contribute to economic growth.
Correct Answer:
Verified
Q18: According to Application 16.1, "A Sad Story:"
A)
Q19: Which of the following statements is true?
A)
Q20: Specialization:
A) increases dependence on markets and trade.
B)
Q21: When nations focus their productive resources on
Q22: You would expect an increase in international
Q24: According to the principle of comparative advantage,
Q25: According to the principle of comparative advantage,
Q26: A nation is said to have a
Q27: When a nation gives up fewer units
Q28: Comparative advantage in international trade is based
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