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When nations specialize in production, they can export one good and import another and end up with more total goods to consume than they had
When nations specialize in production, they can export one good and import another and end up with more total goods to consume than they had without trade. This is the idea of Multiple choice question. protectionism. loss from trade. gains from trade. economic growth. comparative advantage
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Macroeconomics Canada in the Global Environment
Authors: Michael Parkin, Robin Bade
8th edition
321778103, 978-0321808370, 321808371, 978-0321778109
