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Loraine Loraine
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9 years ago
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
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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DropxDropx
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9 years ago
Thanks for updating the community. A lot posters don't realize how important feedback is!
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