World output of goods and services increases with specialization because:
A) The world's resources are used more efficiently.
B) The production possibilities curve shifts outward for each country.
C) The workers in each country work fewer hours per week.
D) The infant industries in each country are protected.
Correct Answer:
Verified
Q30: Which of the following is not true
Q31: If there are only two countries in
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
Q36: Specialization and trade:
A) Reduce consumption possibilities.
B) Increase
Q37: Which of the following is true?
A) Large
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
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