Multiple Choice
International trade between two nations increases the standard of living of both nations due to
A) specialization and gains from absolute advantage.
B) specialization and gains from comparative advantage.
C) high tariffs.
D) political intervention.
Correct Answer:
Verified
Correct Answer:
Verified
Q142: Economists define technology as<br>A) machines such as
Q143: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q144: All of society's applied knowledge on how
Q145: For every choice a person makes it
Q146: An outward bowed production possibilities curve illustrates<br>A)
Q148: In every economic system, choices must be
Q149: Economic goods are<br>A) abundant goods, about which
Q150: Briefly explain the concept of opportunity cost.
Q151: Which of the following is NOT a
Q152: What is the difference between comparative advantage