International Trade on the Basis of Comparative Advantage Maximizes

question 97

Multiple Choice

International trade on the basis of comparative advantage maximizes

• A) domestic output and allows consumers access to better-quality products at lower prices than would be available in the domestic market alone.
• B) foreign output and allows consumers access to better-quality products at lower prices than would be available in the domestic market alone.
• C) world output and allows consumers access to better-quality products at lower prices than would be available in the domestic market alone.
• D) world output, but gives consumers access to lower-quality products at higher prices than would be available in the domestic market alone.
• E) foreign output and product quality in all markets.

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Definitions:

Rudely

In a manner that is impolite, discourteous, or lacking in social graces.

GRIT

in psychology, passion and perseverance in the pursuit of long-term goals

Conflict

A struggle or clash between opposing forces, ideas, interests, or people.

Conciliation

The process of resolving a dispute or conflict through mutual agreement and understanding.