The right decision about what to produce and who to trade with happens:
A) almost entirely by market decisions automatically.
B) when governments publish comparative advantage numbers.
C) only after firms research the cost of inputs such as labor and raw materials, and the sale prices of different goods you could produce, and calculate the most profitable option.
D) governments from different countries get together to decide on trade.
Correct Answer:
Verified
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
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
Q13: Gains from trade are the:
A) increase in
Q14: When trade is possible,each country can produce
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