Expand Resources Give Up? E Feedback Resume Expaned rces Give Up? Attempt 1 Feed

Question

Expand Resources Give Up? E Feedback Resume Expaned rces Give Up? Attempt 1 Feedback Classify each statement as true or false by dragging it into the corresponding category Combined production is higher whern countries specialize and trade instead of abstaining from trade. This allows both trading partners to consume more than they would under autarky True False Countries trade for goods in which they do not have a comparative advantage, and therefore, would never trade with nations that have similar resource endowments When two countries choose to partake in international trade, it is a mutually beneficial activity for both countries Through specialization and trade, it is possible for a country to consume a combination of goods that is beyond its original production possibilisies fromtien Wealthier countries always benefit more from inernational trade than poorer countries. Answer Bank act us heip

Explanation / Answer

a) True Statements

"When two countries chose to partake in international trade, it is mutually beneficial for both the countries".

"Through trade specialization and trade it is possible for a country to consume a combination of goods that is beyond its original production possibilities".

The other two statements are false.

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