Examlex
Suppose that after specializing according to comparative advantage,a country is trading with another nation that also specializes according to its comparative advantage.Which of the following statements are true for the first country?
i.It enjoys gains from trade.
ii.It must have an absolute advantage in the production of the good it produces.
iii.It is producing at a point beyond its PPF.
Complete Package
A product or deal that includes everything needed for a particular purpose or requirement, leaving nothing out.
Reasonable Basis
A standard which requires that claims, especially in law and finance, must have a foundation that is logically sound and justifiable.
Generalities
Statements or ideas that are broad and unspecific, lacking in detailed explanation or specificity.
Exaggerations
Statements that stretch the truth or overstate facts.
Q65: The circular flow model shows the<br>A) distribution
Q65: Given the information in the figure above,
Q68: The price of salsa rises.How does the
Q77: In the circular flow model, which of
Q104: What does GDP measure?<br>A) value of final
Q181: A technological improvement lowers the cost of
Q190: Of the following, the largest source of
Q197: If a nation devotes a larger share
Q284: Over the next few years more and
Q304: An increase in the quantity demanded is