The increase in welfare in both countries that results from specialization and trade is called:
A) gains from trade.
B) surplus enhancement.
C) exportation surplus.
D) deadweight gain.
Correct Answer:
Verified
Q1: Voluntary exchanges:
A)generate surplus,leaving both participants better off
Q3: Gains from trade are:
A)the increase in welfare
Q4: When trade is possible,each country can produce
Q4: When a country has the ability to
Q5: Comparative advantage is the ability to produce:
A)more
Q7: For the most part,in the real world,trade
Q7: When two countries specialize and trade:
A) both
Q8: The Multifibre Arrangement and African Growth and
Q9: If England buys hockey sticks from Canada,it
Q11: The Multifibre Arrangement (MFA):
A)was a group of
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