According to the theory of comparative advantage, trade and specialization ________ productivity by ________ opportunity costs.
A. lower; raising
B. raise; raising
C. lower; lowering
D. raise; lowering
Answer: D
Economics
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A monopolistically competitive firm produces a good or service that has no close substitutes
Indicate whether the statement is true or false
Economics
If opportunity costs are constant, the production possibilities frontier would be graphed as
A) a negatively sloped straight line. B) a ray from the origin. C) a positively sloped straight line. D) a negatively sloped curve bowed in toward the origin.
Economics