What is comparative advantage? How does it relate to U.S. trade policy?

What will be an ideal response?


Answers should describe comparative advantage as a liberal economic policy in which each nation produces what it is best at producing in order to let the market decide on price and supply. Answers should identify comparative advantage as an early influence on U.S. trade policy—the United States hoped to create a global division of labor in which specialization would occur.

Political Science

You might also like to view...

Funding agencies typically release an announcement that they are accepting research

proposals for possible funding called a what? A) money request B) request for protocols C) request for proposals D) request for work

Political Science

To be elected president, a candidate must receive ________ electoral votes?

What will be an ideal response?

Political Science

Claudia, a police officer in Texas, procured a search warrant to look for marijuana in Bob's house. During the search, she found a bundle of currency notes which were stolen during a recent bank robbery

The _______rule allows Bob be charged for the bank robbery. Fill in the blank with the appropriate word.

Political Science

The advancement and protection of individual liberties, like the right to __________, are part of the foundation of the social contract theory of government

A) ?advanced education B) ?property C) ?vote D) ?privacy E) religious freedom

Political Science