Gains from Trade Are

question 122

Multiple Choice

Gains from trade are:

• A)the increase in welfare in both countries that results from specialization and trade.
• B)the transfer of surplus by the receiving country that results from trade.
• C)the deadweight loss by the losing country that results from trade.
• D)the increased skills and human capital that results from specialization and trade.

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Definitions:

Executive Officers

High-level administrators in charge of managing an organization or corporation, typically responsible for strategic planning and operational decisions.

Salaried Managers

Managers who receive a fixed annual income, regardless of the number of hours worked.

Innovation

The process of creating new products, services, or methods that improve upon existing ones, driving progress in various fields.

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