If all countries specialize in producing goods for which they have a comparative advantage, then total world output will be lower.
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Q3: Land is a resource category that includes
Q4: If we move along a production possibilities
Q5: All resources are assumed to be of
Q6: A wealthy economy is likely to choose
Q7: If an economy is operating at a
Q9: The production of more capital goods this
Q10: To move along a production possibilities curve
Q11: Unemployment or underemployment is shown by a
Q12: When resources are destroyed the production possibilities
Q13: A country should always specialize in the
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