Gains from trade are the:
A) increase in welfare in both countries that results from specialization and trade.
B) transfer of surplus by the receiving country that results from trade.
C) deadweight loss by the losing country that results from trade.
D) increased skills and human capital that results from specialization and trade.
Correct Answer:
Verified
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
Q12: The increase in welfare in both countries
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)
Q18: Both countries can benefit from trade when:
A)
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