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Q: 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
A: 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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