3. Which of the following statements about trade is true? a. Unrestricted international trade benefits every person

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3. Which of the following statements about trade is true?

a. Unrestricted international trade benefits every person in a country equally.

b. People that are skilled at all activities cannot benefit from trade.

c. Trade can benefit everyone in society because it allows people to specialize in activities in which they have an absolute advantage.

d. Trade can benefit everyone in society because it allows people to specialize in activities in which they have a comparative advantage.

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

ISBN: 9783030019983

5th Edition

Authors: David R. Hakes

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Question Posted: Nov 14, 2024 03:00 AM

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3. Which of the following statements about trade is true? a. Unrestricted international trade benefits every person

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

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