Examlex
Which of the following about unemployment is true?
Tariff
A financial charge instituted by a government on goods exported from or imported into a country.
Absolute Advantage
The ability of a country, individual, or firm to produce a good or service at a lower cost per unit than other producers.
Trade Benefits
Advantages countries gain from engaging in international trade, such as increased economic growth, diversification, and access to new markets.
Comparative Advantage
An economic theory stating that countries or entities benefit from specializing in producing goods where they have lower opportunity costs, leading to more efficient global production.
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