Suppose That After Specializing According to Comparative Advantage,a Country Is

question 222

Multiple Choice

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.

• A) i only
• B) i and ii
• C) i and iii
• D) ii and iii
• E) i, ii, and iii

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Definitions:

Brain Principles

Fundamental concepts or theories that describe and explain the functioning of the brain, along with its processes and mechanisms.

Metatraits

Broad, higher-order personality traits that emerge from the interactions among more specific, lower-level traits, often discussed in the context of the Big Five personality traits.

Serotonin

A neurotransmitter that contributes to feelings of well-being and happiness, playing a key role in regulating mood, appetite, and sleep.

Dopamine

A neurotransmitter involved in the reward center of the brain, influencing motivation, pleasure, and movement.