If there are only two countries in the world and one has a trade deficit,the other country must:
A) Also have a trade deficit.
B) Have a trade surplus.
C) Have a comparative advantage in all goods.
D) Have trade restrictions in place.
Correct Answer:
Verified
Q26: A trade surplus occurs when:
A) The dollar
Q27: International trade:
A) Raises the prices that consumers
Q28: Which of the following statements about trade
Q29: International trade:
A) Benefits rich countries but not
Q30: Which of the following is not true
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
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