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The law of comparative advantage states that a nation is better off when it produces goods and services for which it has the comparative advantage. How is a comparative advantage obtained? (1
point) by increasing the amount of goods that are traded by producing only products with a high demand value by limiting trade to nonrenewable products by producing a product with a lower opportunity cost
Limitations of the Theory of Comparative Advantage 1. Transport costs may outweigh any comparative advantage 2. Increased specialisation may lead to diseconomies of scale 3. Governments may restrict trade 4. [ [ Comparative advantage measures static advantage but not any dynamic advantage for example in the future India could become good at producing books if it made the necessary investment
] ]
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User: The law of comparative advantage states that a nation is better off when it produces goods and services for which it has the comparative advantage. How is a comparative advantage obtained? (1 point) by increasing the amount of goods that are traded by producing only products with a high demand value by limiting trade to nonrenewable products by producing a product with a lower opportunity cost

Weegy: Limitations of the Theory of Comparative Advantage 1. Transport costs may outweigh any comparative advantage 2. Increased specialisation may lead to diseconomies of scale 3. Governments may restrict trade 4. [ [ Comparative advantage measures static advantage but not any dynamic advantage for example in the future India could become good at producing books if it made the necessary investment ] ]
Expert answered|vcj2028|Points 151|

User: What happens when a nation's currency depreciates? (1 point) Its products become more expensive to other nations. Its trade increases. Its products become cheaper to other nations. Its trade decreases.

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Asked 6/1/2012 7:38:24 AM
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When a nation exports more than its imports, economists say it has a (C)trade surplus.
Added 6/1/2012 5:55:56 AM
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