9 Are the following statements true or false? Explain in each case. a 'Two countries can achieve...

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9 Are the following statements true or false? Explain in each case.

a 'Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods.'

b 'Certain very talented people have a comparative advantage in everything they do.'

c 'If a certain trade is good for one person, it can't be good for the other one.'

d 'If a certain trade is good for one person, it must also be good for the other one.'

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Principles Of Microeconomics

ISBN: 125206

8th Edition

Authors: Joshua Gans, Stephen King, Martin Byford, N Gregory Mankiw

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