1. When countries specialize in producing certain goods and then freely exchange those goods for other goods with different countries, what is the advantage?

a.) All people in each country will be better off than they would be if they did not trade.

b.) Each country can consume at a point outside their production possibilities frontier.

c.) Each country can produce and consume at a point outside their production possibilities frontier.

d.) Each country can produce at a point outside their production possibilities frontier.

Answer rating: 100% (QA)

Option A Because when firms have compar... View the full answer