Multiple Choice
If a country has lower overall productivity levels than its trading partners,then it will
A) be unable to export.
B) have a trade deficit.
C) not be able to obtain gains from trade.
D) have a lower standard of living than its trading partners.
Correct Answer:
Verified
Correct Answer:
Verified
Q26: The economic philosophy that favors strict limits
Q27: What results has the Republic of Korea
Q28: Table 3.1<br>Output per Hour Worked<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3033/.jpg"
Q29: A country that creates competitive advantage where
Q30: Based on Table 3.1,the pre-trade relative price
Q32: If two countries agree to specialize and
Q33: Explain how a country with no absolute
Q34: Describe some of the key controversies regarding
Q35: Based on Table 3.1,if the world price
Q36: In the simple trade model,what is assumed