When countries specialize in production and trade,all of the following are true except:

Name: When countries specialize in production and trade,all of the following are true except:
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When countries specialize in production and trade, there may be some microeconomic losses due to factors like job loss in industries that are no longer competitive or a shift in the balance of trade. However, overall, total world output increases, resources are used more efficiently, and the standard of living increases.

When Countries Specialize in Production and Trade,all of the Following