Author Question: A nation benefits from international trade if it: a. exports more than it imports. b. imports more ... (Read 119 times)

EAugust · **on:** Jun 30, 2018

A nation benefits from international trade if it:
a. exports more than it imports.
b. imports more than it exports.
c. imports goods for which it is a low opportunity cost producer.
d. exports goods for which it is a low opportunity cost producer.

Question 2

The French economist Jean-Baptiste Say transformed the equality of total output and total spending into a law that can be expressed as follows:
a. Unemployment is not possible in the short run.
b. Demand and supply are never equal.
c. Supply creates its own demand.
d. Demand creates its own supply.