Countries that engage in trade will tend to specialize in goods in which they have a(n) _______ and will _______ those goods.

A) comparative advantage; import
B) absolute advantage; export
C) comparative advantage; export
D) economic profit; import

Ans: C) comparative advantage; export

Economics

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The United States was taken off the gold standard by

A) President Lyndon Johnson. B) President Richard Nixon. C) the Federal Reserve Chairman. D) President Jimmy Carter.

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Which of the following would not be an example of an oligopolistic industry?

a. light bulbs b. convenience stores c. aircraft d. breweries

Economics