The United States is one of the richest nations in the world,
A) so it does not need to trade with poor nations in order to achieve any gains from trade.
B) so it might not have a comparative advantage in producing any goods.
C) but it can still benefit from specialization and trade.
D) so it must have a comparative advantage in the production of all goods.
E) so it must have an absolute advantage in the production of all goods.
Correct Answer:
Verified
Q212: If workers in Mexico produce fewer goods
Q213: To achieve gains from trade,a country
A) needs
Q214: In one hour John can produce 20
Q215: Specialization and trade
A) does not benefit anyone.
B)
Q216: The gains from trade include:
i.lower prices from
Q218: Specialization and trade make a country better
Q219: In one hour John can produce 20
