International trade equalizes the opportunity cost of producing any good around the world.
Correct Answer:
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Q12: Most U.S.imports are
A)manufactured goods
B)agricultural services
C)petroleum and related
Q13: International trade increases world economic efficiency for
Q14: The United States exports more raw materials
Q15: In determining comparative advantage, cost is measured
Q18: Japan is generally considered an economy closed
Q19: For which of the following nations does
Q20: The two main categories of U.S.exports are
A)transportation
Q21: In autarky,
A)each country's consumption possibilities are the
Q22: The basis of the benefits of specialization
Q173: For each watch Denmark produces, it gives
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