What other economic process needs to accompany international trade, for nations to benefit from such trade?

A. Specialization in production
B. Nationalization of industries
C. Regulation of production and trade
D. Spreading out of resources in more industries

A. Specialization in production

Economics

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Which of the following increases the demand for a good?

A) a rise in the price of a complement B) the expectation that future income will be higher C) an increase in income, assuming the good is an inferior good D) a decrease in the number of buyers E) a fall in the price of a substitute

Economics

All points on the production possibilities frontier

A) are production inefficient. B) achieve allocative efficiency. C) are production efficient but only one point achieves allocative efficiency. D) are allocatively efficient but only one point achieves production efficiency. E) are allocatively inefficient.

Economics