Because of the quantity and quality of its resources, the U.S. has an absolute advantage in the production of many goods and services. Does this imply that the U.S
cannot benefit from trading with a developing country that has less productive ability? Why or why not?
The U.S. can benefit from trading with less productive countries as long as it produces the goods for which it has a comparative advantage and trades to receive the goods for which it does not.
Economics
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An import quota is the same as an import ban
Indicate whether the statement is true or false
Economics
Refer to Figure 15-11. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, the Federal Reserve would most likely
A) decrease the inflation rate. B) decrease interest rates. C) not change interest rates. D) increase interest rates.
Economics