Multiple Choice
Which of the following statements about trade is true?
A) Unrestricted international trade benefits every person in a country equally.
B) Trade can benefit everyone in society because it allows people to specialize in activities in which they have a comparative advantage.
C) People that are skilled at all activities cannot benefit from trade because they do not have an opportunity cost in production.
D) Trade can benefit everyone in society because it allows people to specialize in activities in which they have an absolute advantage.
Correct Answer:
Verified
Correct Answer:
Verified
Q42: If trade benefits one country, its trading
Q43: Which of the following statements about a
Q44: Suppose the world consists of two countries:
Q45: Exhibit 1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7553/.jpg" alt="Exhibit 1
Q46: Table 1 shows the units of
Q48: The production possibilities frontier demonstrates the basic
Q49: Suppose a country's workers can produce 4
Q50: Points outside the production possibilities frontier are
Q51: All points on a production possibilities frontier
Q52: Which of the following is not employed