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If trade is beneficial for a country, it must be good for everyone in the country. True or False?

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Ronaldo Mendoza
Ronaldo MendozaLv10
2 Oct 2020

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Related questions

1. We can conclude that international trade is beneficial because, regardless of whether the country imports or exports a good, the overall increase in well-being outweighs the losses associated with trade.

Is this statement true or false?

2. The small country assumption is made in developing models of international trade because it applies to US markets.

Is this statement true or false?

A country has a comparative advantage in producing a good if:

A) it can produce that good at a lower opportunity cost.
B) it will find trade most beneficial when it trades with another country that has a comparative advantage in the same good.
C) it will not find trade beneficial because other country(ies) won't have a comparative advantage in other goods.
D) it must also have an absolute advantage in the good

Good Evening My Dear Cramster Family:

I have to answer if these questions are true or false and could you tell me if I am correct with the answers I have chosen? Thank you.

1. Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods. (T)
2. Certain very talented people have a comparative advantage in everything they do. (T)
3. If a certain trade is good for one person it can't be good for the other one. (T)
4. If a certain trade is good for one person it is always good for a country, it must be good for everyone in the country. (F)

All the best,

Nettie

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