Recall the Application about craft beer and the increase in the price of hops to answer the following question(s).Recall the Application. Because hops are inputs in the production of beer, an increase in the production of beer resulted in:

If private investment had held up as well as consumption did, the economic contraction from 1929 to 1933 would have been less severe than it was

Indicate whether the statement is true or false

According to international trade theory

A) trade is based on absolute advantage. B) comparative advantage is based on absolute advantage. C) every country has a comparative advantage in something. D) less developed countries cannot trade successfully with developed countries.