An economic principle that explains why countries produce different goods and services is A) absolute advantage. C)

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Question:

An economic principle that explains why countries produce different goods and services is
A) absolute advantage. C) comparative advantage.
B) trade as a percentage of GDP. D) NAFTA.

A tariff is
A) a limit placed on the quantity of goods that can be imported into a country.
B) a tax imposed by a government on goods imported into a country.
C) a subsidy granted to importers of a vital input.
D) a health and safety restriction imposed on an imported product.