Comparative advantage refers to the:
A) Total amount of resources needed to produce a good.
B) Gains from trade that some countries are able to experience.
C) Comparison of production processes in two different countries.
D) Relative opportunity costs of producing a particular good.
Correct Answer:
Verified
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
Q31: If there are only two countries in
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
Q37: Which of the following is true?
A) Large
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