To obtain the greatest gains from trade, a country should specialize in and ____ those goods for which it has a comparative advantage and ____ those goods for which other countries have a comparative advantage.
a. export; export
b. import; import
c. export; import
d. import; export
Question 2
In any country, the population will generally be better off as long as the ____ over time and population ____.
a. quantity and quality of output decreases; does not increase faster than real output
b. quantity and quality of output increases; increases faster than real output
c. quantity and quality of output increases; does not increase faster than real output
d. technology improves; increases faster than real output
Development encompasses both gains and losses. Sometimes a health crisis (loss) can result in a heal
Atlantic Slave Trade, 1451–1870
How to create a price index to calculate inflation for a basket of goods
Transatlantic Slave Trade
Suppose a country imports televisions. The country's supply and demand curves are shown in ...