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1. When country A can produce a good using fewer absolute inputs than any other country, then country A;__ 2. Gain from trade are mainly due to: 3. Because trade increases a nation's consumption possibilities it is clear that: 4. When the terms of trade are between the opportunity cost for two countries the both countries benefit if they:

1. When country A can produce a good using fewer absolute inputs than any other country, then country A;__ 2. Gain from trade are mainly due to: 3. Because trade increases a nation's consumption possibilities it is clear that: 4. When the terms of trade are between the opportunity cost for two countries the both countries benefit if they:

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 2SCQ: Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40...
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1. When country A can produce a good using fewer absolute inputs than any other country, then country A;_ 2. Gain from trade are mainly due to: 3. Because trade increases a nation's consumption possibilities it is clear that: 4. When the terms of trade are between the opportunity cost for two countries the both countries benefit if they:
Transcribed Image Text:1. When country A can produce a good using fewer absolute inputs than any other country, then country A;_ 2. Gain from trade are mainly due to: 3. Because trade increases a nation's consumption possibilities it is clear that: 4. When the terms of trade are between the opportunity cost for two countries the both countries benefit if they:
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