In the past few years two deviations from U.S. free trade policies have been _________________ and ______________________.

It is possible to have a comparative advantage in producing a good or service without having an absolute advantage

Indicate whether the statement is true or false

Gains from the Single European Act were expected to be from

A) reduction of transactions costs from having a single currency. B) reduced trade barriers and customs problems. C) increased competition and economies of scale. D) harmonization of environmental and labor standards.