If There Is No Comparative Advantage in the Production of Either

question 109

Multiple Choice

If there is no comparative advantage in the production of either of the two goods produced by countries 1 and 2,then

• A) the benefits resulting from trade between the two countries are increased.
• B) there are no gains from specialization and trade between the two countries.
• C) one country must be more productive in producing all goods than the other.
• D) each country should specialize in the production of a particular good.
• E) none of the above

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Definitions:

Respect

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Boarding School Experience

The Boarding School Experience refers to living and studying in a school where students reside on campus during the school term.

Governmental Policies

Rules, laws, or guidelines that are created and enforced by a government to regulate behavior, manage public resources, or provide services to its citizens.

Long-term Repercussions

Enduring consequences or effects that result from actions, events, or decisions, often extending far beyond the initial occurrence.