Author Question: Comparative advantage indicates that: a. specialization and exchange will cause trading partners to ... (Read 34 times)

Alainaaa8 · **on:** Jun 30, 2018

Comparative advantage indicates that:
a. specialization and exchange will cause trading partners to reduce their joint output.
b. a nation can gain from trade even when it is at an absolute disadvantage in producing all goods.
c. trade with low-wage countries will pull down the wages of workers in high-wage countries.
d. all of these.

Question 2

Inflation psychosis and wage-price spirals are two types of hyperinflation.
a. True
b. False
Indicate whether the statement is true or false