Multiple Choice
If technology improves or the amounts of available resources increase, the:
A) absolute advantage of producing goods and services declines.
B) redistribution effects of international trade disappear.
C) production possibilities frontier shifts outward.
D) potential for gains from international trade disappears.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The points at which a country-s production
Q3: Without trade, the production possibilities frontier also
Q4: The opportunity cost of producing an additional
Q5: If one nation-s production possibilities frontier is
Q6: Absolute advantage is the term for a
Q7: Gains from trade occur for an individual
Q8: A redistribution effect of international trade unambiguously
Q9: After residents of two nations specialize in
Q10: The slope of a line tangent to
Q11: The slope of a line tangent to