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When the United States Trades with Singapore

Question 157

Multiple Choice

When the United States trades with Singapore,


A) both countries are likely made better off.
B) only Singapore benefits since the United States can produce all goods at a higher level of quality than Singapore.
C) only the United States benefits since Singapore's low wages guarantee profitable firms in Singapore regardless of trade.
D) niether country will benefit since the United States is more efficient than Singapore at producing all goods.

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