If Nations Trade on the Basis of Comparative Advantage

question 21

Multiple Choice

If nations trade on the basis of comparative advantage:

• A) a nation usually can gain from trade only at the expense of its trading partners.
• B) exporting nations gain from trade and importing nations lose.
• C) importing nations gain from trade and exporting nations lose.
• D) all trading partners can gain from trade.

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Definitions:

Indictment

A formal charge or accusation of a serious crime issued by a grand jury.

Miranda Warnings

A set of constitutional rights read to a suspect by law enforcement before questioning begins, informing them of their right to remain silent and to have an attorney.

Exclusion

The act of denying someone or something access to a place, group, or privilege.

Voluntary Admissions

The act of willingly acknowledging or accepting responsibility for certain actions or facts, often in a legal context.