Based on Table 3.1, which country or countries has an absolute advantage and a comparative advantage in shoes?
A) Mexico has an absolute and comparative advantage in shoes.
B) The United States has an absolute and comparative advantage in shoes.
C) The United States has a comparative advantage, and Mexico has an absolute advantage in shoes.
D) Mexico has a comparative advantage, and the United States has an absolute advantage in shoes.
E) There is not enough information to tell.
D
Economics
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When the monopoly firm is able to charge a higher price, the amount of ________ also increases, thus magnifying the importing nation's __________.
a. quota rents; losses b. comparative advantage; gains from trade c. profits; welfare d. protection; employment gains
Economics
Positive economic analysis is said to be
A) true. B) right. C) value-laden. D) objective.
Economics