Author Question: Specialization and trade benefits all participants only if: a. They specialize in those things they ... (Read 45 times)

haleyc112 · **on:** Jun 30, 2018

Specialization and trade benefits all participants only if:
a. They specialize in those things they have both a comparative and absolute advantage in.
b. They specialize in those things they have a comparative advantage in, even if they have an absolute disadvantage.
c. They specialize in those things they have an absolute advantage in, even if they have a comparative disadvantage.
d. Traders have the same opportunity cost of production

Question 2

The ____ shows roughly how long it will take a nation to double its output at various growth rates.
a. rule of rapid growth
b. rule of 70
c. rule of 1950
d. duopoly rule