Multiple Choice
Gains from specialization and trade are basically:
A) what a country can consume after trade beyond what it can consume before trade.
B) short-term gains that must be reinvested immediately.
C) long-term gains that are not as good as domestic production.
D) what a country can trade without losing its absolute advantage.
E) cheaper imports only.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: The Mercantilists believed that international trade was
Q2: Prices of traded goods fall in the
Q3: Many of the gains from trade occur
Q4: Comparative advantage only applies to international trade.
Q6: The dynamic gains from trade and the
Q7: Consider the information below for Namibia and
Q8: Trade between Mississippi and Massachusetts occurs for
Q9: List and explain the various dynamic gains
Q10: Which of the following is not true
Q11: The Mercantilists believed that imports were "bad"