Trade requires:
A) governments to get together and agree on who is going to specialize in what.
B) governments employ an economic planner to find comparative advantage for different products.
C) that day-to-day business decision making is carried out almost entirely by firms and individuals, not by governments.
D) firms and individuals to follow government mandates about what to trade.
Correct Answer:
Verified
Q1: Engaging in international trade has all of
Q3: When a country has the ability to
Q4: When a country has the ability to
Q5: Comparative advantage is the ability to produce:
A)
Q6: If England buys hockey sticks from Canada,then:
A)
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
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