Which statement if false?
A) If the U.S.can produce rice more efficiently than Japan can,the U.S.enjoys an absolute advantage.
B) Economists dislike both tariffs and import quotas.
C) Under the law of comparative advantage,total output is greatest when each product is made by the country that produces it most efficiently.
D) No nation will engage in trade with another nation unless it will gain by that trade.
Correct Answer:
Verified
Q185: When a country exports more goods and
Q186: If the opportunity cost of producing one
Q187: Statement I: A strong case could be
Q188: Which statement is true?
A)Nations should strive for
Q189: Which statement is false?
A)Our 2009 trade deficit
Q191: Statement I: Americans buy what are Asian
Q192: Frederic Bastiat and Adam Smith both presented
Q193: Our balance of trade in services is
Q194: Statement I: Most clothing and footwear sold
Q195: Statement I: The U.S.protected its industries with
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