Author Question: People who call for creating a level playing field believe that: a. a country with relatively low ... (Read 54 times)

ishan

  • Hero Member
  • *****
  • Posts: 546
People who call for creating a level playing field believe that:
 a. a country with relatively low wages is typically a country with an abundance of low-skilled labor.
  b. trading on the basis of comparative advantage benefits both domestic and foreign firms.
  c. creating a level playing field undermines the basis for specialization and economic efficiency.
  d. production in accordance with comparative advantage is unfair.
  e. free trade allocates the scarce resources in an efficient way.

Question 2

If nations begin to expand their specialization in production for the purpose of trade,
 a. consumer surplus will increase, but not total output.
 b. total world output will increase, and consumer surplus will increase as well.
  c. total world output will increase, but consumer surplus will not increase.
 d. neither total output nor consumer surplus will change.



bob

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

d

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

For a complete list of videos, visit our video library