Two Individuals or Two Nations Can Benefit from Trade Even

question 72

True/False

Two individuals or two nations can benefit from trade even if one country has an absolute advantage over the other in producing all goods.

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Definitions:

Bonds Payable

Long-term liabilities representing money borrowed by an entity that must be repaid to creditors at a future date.

Financing Activities

Transactions related to raising capital, repaying investors, and restructuring the financial basis of the entity in the statement of cash flows.

Treasury Stock

Stock that a corporation has once issued and then reacquires.

Cash Dividends

Payments made by a corporation to its shareholders from its profits or reserves, usually in the form of cash.