The central reason why there are gains from international trade is because
a. trading allows otherwise unemployed people to have jobs
b. the rate of interest is not the same in all countries.
c. resources are not equally distributed to all nations.
d. those nations with absolute advantages in producing many goods can produce all of those goods at lower opportunity costs than other countries.
c
You might also like to view...
Economic regulation occurs when
a. monopoly is the optimal market structure b. the industry is highly competitive c. the product is important to economic welfare d. the government owns the assets of the industry e. the product price, if left unregulated, would be too low
Suppose that the "Millennial" generation values leisure more than past generations. We can expect a decrease in the labor supply as the Millennials enter their prime working ages and a corresponding increase in wages
a. True b. False Indicate whether the statement is true or false