Which of the following is true?
A) Large countries achieve a higher standard of living if they do not trade.
B) With trade,world consumption possibilities decrease.
C) Typically,countries with a large GDP experience a trade surplus.
D) On a global scale,total imports must equal total exports.
Correct Answer:
Verified
Q32: Comparative advantage refers to the:
A) Total amount
Q33: Which of the following is a gain
Q34: If a country specializes in production and
Q35: World output of goods and services increases
Q36: Specialization and trade:
A) Reduce consumption possibilities.
B) Increase
Q38: The most desired goods and services that
Q39: Consumption possibilities refers to the:
A) Maximum amount
Q40: Specialization and trade benefits:
A) Both rich countries
Q41: Terms of trade refer to:
A) Negotiations made
Q42: Comparative advantage refers to a country's:
A) Ability
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