In his study of the role of the foreign sector in economics, Harry learns that specialization...
In his study of the role of the foreign sector in economics, Harry learns that specialization and trade exist because __________.
Group of answer choices
all nations’ opportunity costs are the same
all individuals’ opportunity costs are the same
opportunity costs are not crucial to international trade
individuals’ and nations’ opportunity costs are different
Homework Answers
Answer :- individuals’ and nations’ opportunity costs are different.
Explanation :- It is possible for both countries to gain from specialization and trade. Opportunity costs is what drives trading. so individual and Nations opportunity cost are different. when opportunity cost for nation's are lowest then it's should allow to trade.
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In his study of the role of the foreign sector in economics,
Harry learns that specialization...
Note: Only select the correct option 1. Which of the following statements regarding the foreign sector...
Note: Only select the correct option
1. Which of the following statements regarding the foreign sector is/are correct? a. Absolute advantage is a prerequisite for international trade. b. Differences in resource endowments necessitate intemational trade. Countries can only benefit from trade if the opportunity costs among the trading countries are the same. c. [1] Only a and b 2 Only and c 3 Only b and c 4 Only b 2. Which one of the following statements regarding the assumptions...
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Note: Only select the correct option
1. Which of the following statements regarding the foreign sector is/are correct? a. Absolute advantage is a prerequisite for international trade. b. Differences in resource endowments necessitate intemational trade. Countries can only benefit from trade if the opportunity costs among the trading countries are the same. c. [1] Only a and b 2 Only and c 3 Only b and c 4 Only b 2. Which one of the following statements regarding the assumptions...
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Can anyone answer the question and explain it thx alot
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