22. Which statement is true? (LO3) a) Comparative advantage is not necessary for trade to take place, but absolute advantage is. b) Absolute advantage is not necessary for trade to take place, but comparative advantage is. c) Both absolute and comparative advantage are necessary for trade to take place. d) Neither absolute nor comparative advantage is necessary for trade to take place. 23. Which statement is true? (LO4) a) There are basically no arguments that can be made on behalf of trade protection. b) The arguments for trade protection are more valid than the arguments for free trade. c) The United States has had a record of fully supporting free trade since the early 20th century. d) Much of what we import has been produced by "sweatshop labor."