Statement I: Although we have been losing manufacturing jobs to competition since the early 1960s,there are more manufacturing jobs in America today than there were in 1960.
Statement II: The basis for foreign trade is comparative advantage.

Question

Quizplus · Accepted Answer

Statement I is false because the number of manufacturing jobs in America has generally declined since the 1960s. Statement II is true because comparative advantage is a fundamental economic principle that explains the basis for foreign trade.

Statement I: Although We Have Been Losing Manufacturing Jobs to Competition