The law of comparative advantage suggests that a curtailing US trade with other

The law of comparative advantage suggests that a

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121.The law of comparative advantage suggests thata.curtailing U.S. trade with other countries would make U.S. consumers better off.b.everyone would be better off if they were self-sufficient.c.countries will tend to import commodities that they can produce at a relatively low opportunity cost.d.countries will tend to import commodities that they can produce at a relatively high opportunity cost.ANS:DPTS:1DIF:ModerateNAT:BUSPROG: AnalyticSTA:DISC: Gains from trade, specialization and tradeTOP:Trade, Output, and Living StandardsKEY:Bloom's: Comprehension122.The law of comparative advantage explains why123.The law of comparative advantage applies to exchange between124.Which of the following is an implication of the law of comparative advantage?download full file at
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download full file at less developed nations, trade between capital-rich and capital-poor nations results in the exploitation of labor in the less developed countries.
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