Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following statements is true? A.International trade does not reflect the benefits of specialization. B.A nation should specialize in producing a good in

Which of the following statements is true?

  • A.International trade does not reflect the benefits of specialization.
  • B.A nation should specialize in producing a good in which it has an absolute advantage.
  • C.A nation should specialize in producing a good in which it has a comparative advantage.
  • D.A nation should specialize in producing a good only when it has both an absolute and a comparative advantage.
  • E.Exports tend to decrease economic efficiency.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Exploring Economics

Authors: Robert L Sexton

5th Edition

978-1439040249, 1439040249

More Books

Students also viewed these Economics questions

Question

How did the authors address the fallacy of homogeneity?

Answered: 1 week ago

Question

Briefly explain the qualities of an able supervisor

Answered: 1 week ago

Question

Define policy making?

Answered: 1 week ago

Question

Define co-ordination?

Answered: 1 week ago

Question

What are the role of supervisors ?

Answered: 1 week ago

Question

1. What physical and mental tasks does the worker accomplish?

Answered: 1 week ago

Question

5. Why is the job done?

Answered: 1 week ago

Question

4. How does the worker do the job?

Answered: 1 week ago