Trade Between Two Nations Is Mutually Beneficial If Each Specializes

question 172

True/False

Trade between two nations is mutually beneficial if each specializes in the good in which it has a comparative advantage.

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Definitions:

Contract

A legally enforceable agreement between two or more parties with explicit terms and conditions.

Discontinued Operations Section

A section in the financial statements that reports the results of operations that have been discontinued by a company.

Net Of Tax

This refers to the amount left after taxes have been subtracted from the total or the calculation made taking taxes into account.

Income Statement

A financial statement that shows a company's revenues, expenses, and profits or losses over a particular period of time.