Since 1950,the world's real GDP has increased by seven times and the volume of world trade has increased by roughly
A) the same amount.
B) two times.
C) ten times.
D) fifteen times.
E) thirty-five times.
Correct Answer:
Verified
Q4: Trade,whether between individuals or nations,generally promotes
A)self-sufficiency.
B)specialization.
C)lower living
Q5: The principle of comparative advantage was first
Q7: The existence of "absolute advantage"
A)implies that there
Q11: There will be no gains from specialization
Q14: The increases in a nation's output and
Q14: Consider the following information about the production
Q15: Consider the following information about the production
Q17: If a country has a comparative advantage
Q17: In 2014 the value of goods exported
Q19: The existence of any "gains from trade"
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents