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Are the following statements true or false? Explain in each case. a. “Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods.” b. “Certain talented people have a comparative advantage in everything they do.” c. “1f a certain trade is good for one person, it can’t be good for the other one.” d. “If a certain trade is good for one person, it is always good for the other one.” e. “If trade is good for a country, it must be good for everyone in the country.” To find additional study resources, visit cengagebrain.com, and search for “Mankiw.”

BuyFind

Essentials of Economics (MindTap C...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781337091992
BuyFind

Essentials of Economics (MindTap C...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781337091992

Solutions

Chapter
Section
Chapter 3, Problem 9PA
Textbook Problem

Are the following statements true or false? Explain in each case.

a. “Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods.”

b. “Certain talented people have a comparative advantage in everything they do.”

c. “1f a certain trade is good for one person, it can’t be good for the other one.”

d. “If a certain trade is good for one person, it is always good for the other one.”

e. “If trade is good for a country, it must be good for everyone in the country.”

To find additional study resources, visit cengagebrain.com, and search for “Mankiw.”

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