If US workers can produce everything in less time than Mexican workers, it is not possible for the US to gain from trade with Mexico.
Correct Answer:
Verified
Q37: When there are two people and each
Q38: The gains from specialization and trade are
Q39: If a country has the comparative advantage
Q40: Fred trades 2 tomatoes to Barney in
Q41: Ellie and Brendan both produce apple pies
Q43: Goods produced abroad and sold domestically are
Q44: Trade allows all countries to achieve greater
Q45: Trade allows a person to obtain goods
Q46: As long as two people have different
Q47: For international trade to benefit a country,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents