Multiple Choice
Gains from trade occur for an individual nation when international trade results in:
A) constraining consumption possibilities to the nation-s individual production possibilities
B) an increase in the nation-s consumption possibilities beyond its individual production possibilities
C) an absolute advantage
D) gains from trade
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
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
Q12: If a nation has an absolute advantage