If Estonia Has an Absolute Advantage in the Production of Two

question 155

True/False

If Estonia has an absolute advantage in the production of two goods compared to Norway, Estonia cannot benefit from trade with Norway.

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Definitions:

Civil War

In the United States, refers to the conflict between the Northern states (Union) and the Southern secessionist states (Confederacy) from 1861 to 1865, primarily over issues of slavery and states' rights.

Northern Society

A secret revolutionary organization in the early 19th century in Russia, which aimed at overthrowing the autocracy and implementing constitutional reforms.

Materialism

a philosophical position that holds physical matter as the only or fundamental reality and discounts any independent existence of mental states or consciousness.

Idealism

A philosophy that emphasizes the primacy of ideas and ideals in interpreting experience and guiding actions, often contrasted with materialism.