Differences in Opportunity Cost and Comparative Advantage Allow for Gains

question 121

True/False

Differences in opportunity cost and comparative advantage allow for gains from trade.

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Definitions:

Science

An organized effort that develops and arranges knowledge as verifiable explanations and forecasts regarding the cosmos.

Rationality

The quality of being based on or in accordance with reason or logic.

True Statements

Assertions or claims that accurately reflect reality or are in accordance with facts and verified information.

Rationalism

That philosophy that is characterized by its confidence in reason, and intuition in particular, to know reality independently of experience. Continental rationalism is a term usually reserved for three great European philosophers: Descartes, Spinoza, and Leibniz.