7. Are the following statements true or false? Explain in each case. a. Two countries can achieve...
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7. 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 is always good for the other one."
e. "If trade is good for a country, it must be good for everyone in the country."
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Related Book For
Principles Of Macroeconomics
ISBN: 9780176591977
7th Canadian Edition
Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie
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