Multiple Choice
Specialization can lead to an increase in the production of all goods only if
A) the two nations specialized in the production of goods.
B) each nation were to produce all goods.
C) the opportunity cost of producing goods differs between two nations.
D) neither country has a comparative advantage in the production of any good.
Correct Answer:
Verified
Correct Answer:
Verified
Q43: Quotas and tariffs both serve the purpose
Q82: The principle of comparative advantage essentially states
Q83: Mike and Mary each produce two goods.According
Q84: In general,higher imports-to-GDP ratios are more likely,the<br>A)smaller
Q85: List and explain fully the arguments against
Q87: The Uruguay round of GATT talks resulted
Q89: Import restrictions<br>A)can protect Canadian jobs in the
Q90: If Jane is five times more productive
Q148: Comparative advantage is defined as<br>A) producing all
Q275: Given two economic systems, A and B,