Gains from trade are:
A) the increase in welfare in both countries that results from specialization and trade.
B) the transfer of surplus by the receiving country that results from trade.
C) the deadweight loss by the losing country that results from trade.
D) the increased skills and human capital that results from specialization and trade.
Correct Answer:
Verified
Q1: Voluntary exchanges:
A)generate surplus,leaving both participants better off
Q4: When a country has the ability to
Q4: When trade is possible,each country can produce
Q5: Comparative advantage is the ability to produce:
A)more
Q6: The increase in welfare in both countries
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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