If the world price of textiles is lower than Vietnam’s domestic price of textiles without trade, then Vietnam Group of answer choices should refrain altogether from producing textiles. has a comparative advantage in textiles. should produce just enough textiles to meet its domestic demand. should import textiles.
If the world price of textiles is lower than Vietnam’s domestic price of textiles without trade, then Vietnam Group of answer choices should refrain altogether from producing textiles. has a comparative advantage in textiles. should produce just enough textiles to meet its domestic demand. should import textiles.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section: Chapter Questions
Problem 1CQQ
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Question
If the world price of textiles is lower than Vietnam’s domestic price of textiles without trade, then Vietnam
Group of answer choices
should refrain altogether from producing textiles.
has a comparative advantage in textiles.
should produce just enough textiles to meet its domestic demand.
should import textiles.
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