According to Adam Smith, international trade is based on comparative advantage.
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Q60: The Mercantilists believed that international trade was
Q61: The Mercantilists equated wealth with holdings of
Q62: The Mercantilists believed that imports were "bad"
Q63: Modern international trade theory really started with
Q64: International trade allows the world to use
Q66: Specialization and trade increase the world's output
Q67: A country's ability to produce a specific
Q68: A country's ability to produce a specific
Q69: The only reason why countries conduct international
Q70: If a country has an absolute advantage
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