How are a nation’s production possibilities affected by specialization and trade based on the law of comparative advantage? A)Only a nation with an absolute advantage has a shift in the PPC B)A nation’s trading possibilities shifts the PPC curve to the right, or outside the original production possibilities. C)A nation’s trading possibilities shifts the PPC curve to the left, or inside the original production possibilities. D)The production possibilities curve, before and after trade does not change
How are a nation’s production possibilities affected by specialization and trade based on the law of comparative advantage? A)Only a nation with an absolute advantage has a shift in the PPC B)A nation’s trading possibilities shifts the PPC curve to the right, or outside the original production possibilities. C)A nation’s trading possibilities shifts the PPC curve to the left, or inside the original production possibilities. D)The production possibilities curve, before and after trade does not change
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 2SCQ: Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40...
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In the picture below is the full question. The highlighted one is my guess which is wrong.
How are a nation’s production possibilities affected by specialization and trade based on the law of
A)Only a nation with an
B)A nation’s trading possibilities shifts the PPC curve to the right, or outside the original production possibilities.
C)A nation’s trading possibilities shifts the PPC curve to the left, or inside the original production possibilities.
D)The
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