The increase in welfare in both countries that results from specialization and trade is called:
A) surplus enhancement.
B) exportation surplus.
C) gains from trade.
D) deadweight gain.
Correct Answer:
Verified
Q7: When two countries specialize and trade:
A) both
Q8: When each country specializes in producing the
Q9: The right decision about what to produce
Q10: Absolute advantage is the ability to produce:
A)
Q11: If Colombia has a comparative advantage over
Q13: Gains from trade are the:
A) increase in
Q14: When trade is possible,each country can produce
Q15: If Spain sells soccer balls to the
Q16: If Japan has an absolute advantage over
Q17: For the most part,trade between many countries:
A)
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