A Country Can Gain by Importing a Good That It

question 143

Multiple Choice

A country can gain by importing a good that it can make itself if

• A)this enables the country to make another good in which it is extremely efficient.
• B)it has an absolute disadvantage in the good.
• C)this permits the country to establish comparative advantage in the good.
• D)All of the above are correct.

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Definitions:

Market Revolution

A period during the 19th century in the United States characterized by a shift from subsistence farming and artisanal crafts to industrial manufacturing and commercial agriculture.

Freedom and Slavery

A dichotomy highlighting the ideological, social, and political contrasts between the concepts of freedom and the institutional practices of slavery.

Lincoln-Douglas Debates

A series of seven debates in 1858 between Abraham Lincoln and Stephen A. Douglas, focusing largely on the issue of slavery and its expansion into American territories.

American Political History

The study and analysis of political events, ideas, movements, and leaders throughout the history of the United States.