7. Which statement best describes a gain from trade for an importing country? a.

Question

7. Which statement best describes a gain from trade for an importing country?

a. Domestic producers receive higher prices
b. Domestic consumers pay higher prices
c. Domestic producers can produce more goods
d. Domestic consumers can consume more goods


8. Comparative advantage implies that a nation

a. Will import that good in which they possess a comparative advantage
b. Produces larger quantities of the good than any other nation
c. Produces the good at the lowest opportunity costs of all nations
d. Reduces labor restrictions and environmental policies to reduce total costs

*Please explain hwo you came to your conclusion*

Explanation / Answer

7 c. Domestic producers can produce more goods 8 d. Reduces labor restrictions and environmental policies to reduce total costs

Related Questions

Navigate

• Browse (All)
• Browse 7
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.