Gains from specialization and trade are basically:
A) what a country can consume after trade beyond what it can consume before trade.
B) short-term gains that must be reinvested immediately.
C) long-term gains that are not as good as domestic production.
D) what a country can trade without losing its absolute advantage.
E) cheaper imports only.

Question

Quizplus · Accepted Answer

Gains from specialization and trade refer to the increase in consumption and production efficiency that a country experiences by focusing on the production of goods for which it has a comparative advantage and trading for other goods. This allows countries to consume more than they could without trade.

Gains from Specialization and Trade Are Basically