Multiple Choice
When nations specialize according to their comparative advantage
A) Total production and consumption in the world increase.
B) Consumption rises in one country but must fall in all others.
C) Total world production rises but total consumption in the world declines.
D) none of the above
Correct Answer:

Verified
Correct Answer:
Verified
Q95: An import quota specifies<br>A) the amount of
Q96: How can comparative advantage yield gains from
Q97: Suppose a new EU member begins substituting
Q98: Using trade restrictions to protect special interests
Q99: The General Agreement on Tariffs and Trade
Q101: The ability to produce a good at
Q102: One reason that U.S. exports of commercial
Q103: If a good sells for $10 domestically
Q104: Specialization allows for<br>A) more consumption for all
Q105: "International trade bestows benefits on countries through