Total World Output Can Increase Without the Addition of Resources

question 164

Multiple Choice

Total world output can increase without the addition of resources if

• A)countries specialize in the product in which they have an absolute advantage and trade for products in which they have an absolute disadvantage.
• B)countries specialize in the product in which they have a comparative advantage and trade for products in which they have a comparative disadvantage.
• C)countries impose tariffs on the goods in which they have a comparative advantage.
• D)countries replace tariffs with quotas.
• E)countries replace quotas with tariffs.

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