The Source of Gains from Trade Is

question 35

Multiple Choice

The source of gains from trade is

• A)tariffs
• B)self-sufficiency
• C)autarky equilibrium
• D)absolute advantage
• E)comparative advantage

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Definitions:

Court Authority

The legal power and jurisdiction granted to courts to hear cases, make decisions, and enforce the law.

Statutory Law

A law enacted by the legislative branch of a government.

State Courts

Courts established by the laws of each state in the U.S. that have jurisdiction over disputes and cases within their respective states.

Supremacy Clause

A clause in the U.S. Constitution declaring that federal laws are the supreme law of the land and take precedence over state laws.