Trade increases the amount of goods that are available for each country to a. gain from trade. b. lose from trade. c. consume. d. sell.
Added by Christopher A.
Step 1
Step 1: Trade increases the amount of goods that are available for each country to consume. Show more…
Show all steps
Your feedback will help us improve your experience
Shalini Tyagi and 70 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Which of the following is true when two countries specialize according to their comparative advantage? a. It is possible to increase their total output of all goods. b. It is possible to increase their total output of some goods only if both countries are industrialized. c. One country is likely to gain from trade, while the other loses. d. None of the above is true.
Shalini T.
Kevin C.
Which option best explains why countries trade with each other? A. to eliminate scarce resources B. to eliminate excess resources C. to sell goods they cannot produce locally D. to obtain goods they cannot produce efficiently
Sanchit J.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD