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Author Question: North America exports clothing to the European Union, and the European Union exports clothing to ... (Read 27 times)

kaitlynndavis

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on: Oct 12, 2022

Question 1

The increases in a nation's output and consumption that result from specialization and trade are called
◦ absolute advantage.
◦ the terms of trade.
◦ autarky.
◦ comparative advantage.
◦ the gains from trade.

Question 2

North America exports clothing to the European Union, and the European Union exports clothing to North America. This is a(n)
◦ violation of the law of comparative advantage.
◦ obvious failure to take advantage of specialization.
◦ example of the inefficiency of trade patterns.
◦ general conclusion of the Heckscher-Ohlin theory.
◦ likely result of economies of scale and product differentiation.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by kaitlynndavis on Oct 12, 2022

kugyo01

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kaitlynndavis

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Reply 2 on: Oct 12, 2022
Excellent

komodo7

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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