Multiple Choice
Which one of the following is FALSE?
A) A country can only have a comparative advantage in producing a good if it also has an absolute advantage in producing that good.
B) A country has a comparative advantage in producing a good if it can do so at a lower opportunity cost than any other country can.
C) Trade allows each country to specialize in producing those goods for which it enjoys a comparative advantage.
D) Both tariffs and quotas reduce the volume of trade.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Dumping is<br>A) selling low-quality goods abroad.<br>B) exporting
Q9: Trade harms developing countries because they don't
Q10: A country has an absolute advantage in
Q11: The industries receiving the most import protections
Q12: Exports account for 25 percent of U.S.
Q14: The World _ _ is a body
Q15: The effect of a tariff is to
Q16: Which one of the following is FALSE?<br>A)
Q17: Quotas serve to<br>A) encourage trade.<br>B) encourage imports.<br>C)
Q18: Table 16.4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10969/.jpg" alt="Table 16.4