International trade benefits a nation when a. its revenue from selling abroad exceeds its outlays from buying abroad. b. its trading partners experience reduced economic well-being. c. all nations are specializing in producing what they do best. d. no domestic jobs are lost because of trade.

International trade benefits a nation when a. its revenue from selling abroad exceeds its outlays from buying abroad. b. its trading partners experience reduced economic well-being. c. all nations are specializing in producing what they do best. d. no domestic jobs are lost because of trade.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter34: Globalization And Protectionism

Section: Chapter Questions

Problem 23RQ: Does international trade, taken as a whole, increase the total number of jobs, decrease the total...

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Question

International trade benefits a nation when

a. its revenue from selling abroad exceeds its outlays from buying abroad.

b. its trading partners experience reduced economic well-being.

c. all nations are specializing in producing what they do best.

d. no domestic jobs are lost because of trade.

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