Trade Among Nations Is Ultimately Based on Absolute Advantage

question 138

True/False

Trade among nations is ultimately based on absolute advantage.

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Definitions:

Function

A mathematical relationship where each input has a single output, often expressed as f(x).

Domain

All the conceivable values that can be inputted into a function.

Composition

In mathematics, the act of applying one function to the result of another to produce a third function; it's the combining of two functions where the output of one becomes the input of the other.

Composition

The operation of applying one function to the result of another to produce a third function.