{
  "slug": "chapter-03-why-everybody-trades-comparative-advantage",
  "chapter": 3,
  "title": "Why Everybody Trades: Comparative Advantage",
  "overview": "Why Everybody Trades: Comparative Advantage This chapter extends the analysis of international trade to consider trade in a multiple-product economy. An economy composed of two products is useful to bring out insights about international trade. This general equilibrium approach explicitly shows the effects of resource reallocations between industries. The chapter culminates in showing the importance of comparative advantage for understanding why countries trade.",
  "manualPreview": [
    "Why Everybody Trades: Comparative Advantage",
    "This chapter extends the analysis of international trade to consider trade in a multiple-product economy. An economy composed of two products is useful to bring out insights about international trade. This general equilibrium approach explicitly shows the effects of resource reallocations between industries. The chapter culminates in showing the importance of comparative advantage for understanding why countries trade.",
    "The story begins with Adam Smith and absolute advantage. (A box on mercantilism summarizes the view that Smith opposed and shows how mercantilist thinking continues today.) The analysis focuses on the productivity of labor (output per hour) in producing each of two products (wheat and cloth) in two countries (the United States and the rest of the world). Smith examined the case of absolute advantage, in which labor productivity in producing one product is higher in one country and labor productivity in producing the other product is higher in the other country. With no trade each country must produce both products to meet national demands. The discussion of the Smith case focuses on the increase in global production efficiency achieved by shifting production in each country toward the product in which it has the higher labor productivity. National demands can be met by international trade—apparently excess supplies can be exported and apparently excess demands can be met by imports. The increase in total world production is the evidence of gains from international trade.",
    "Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost. The Ricardian example is developed in more detail. The ratio of resource costs (labor hour input-output coefficients, the inverse of labor productivities) indicates the opportunity costs or relative prices of the products in each country with no trade. The difference in prices with no trade sets up the opportunity for arbitrage, with each good being exported from the initially low-price country and imported by the initially high-price country. The shift to a free trade equilibrium results in an equilibrium international price. Without information on demand, we cannot say exactly what this price will be, but we do know that it is in the range bordered by the two no-trade price ratios."
  ],
  "slideOutline": [
    "Adam Smith’s Theory of",
    "Principle of Absolute Advantage",
    "David Ricardo’s Theory of Comparative Advantage",
    "Ricardo’s Theory of Trade",
    "The Ricardian Model",
    "Ricardo’s Constant Costs and",
    "Ricardo’s Constant Costs and the",
    "The Gains from Trade",
    "The Gains from Trade: Long Description",
    "Question",
    "Some Implications of the Theory of Comparative Advantage",
    "Does  absolute advantage matter?"
  ],
  "stats": {
    "manualChars": 16444,
    "slideCount": 15,
    "exerciseCount": 60,
    "knowledgePoints": 6,
    "caseStudies": 4
  },
  "knowledgePoints": [
    {
      "id": "ch03-kp-01",
      "title": "Adam Smith's Theory of Absolute Advantage",
      "summary": "The story begins with Adam Smith and absolute advantage. (A box on mercantilism summarizes the view that Smith opposed and shows how mercantilist thinking continues today.) The analysis focuses on the productivity of labor (output per hour) in producing each of two products (wheat and cloth) in two countries (the United States and the rest of the world).",
      "supportingBullets": [
        "Absolute Advantage",
        "In his",
        "Wealth of Nations,"
      ],
      "sourceType": "manual"
    },
    {
      "id": "ch03-kp-02",
      "title": "Ricardo's Theory of Comparative Advantage",
      "summary": "Why Everybody Trades: Comparative Advantage",
      "supportingBullets": [
        "Mutually beneficial trade can occur even when one nation (say, the Rest of the World or ROW) is absolutely better at producing all goods.",
        "Although ROW is absolutely better, the key is",
        "relative prices"
      ],
      "sourceType": "manual"
    },
    {
      "id": "ch03-kp-03",
      "title": "Ricardos Constant Costs and the Production-Possibilities Curve",
      "summary": "The chapter uses the Ricardian example to introduce a key analytical device—the production possibility curve, which shows all combinations of outputs of different goods that an economy can produce with full employment of resources and maximum productivity. The resource costs of producing each product in the country and the total amount of labor hours available in the country are used to graph the country's production possibility curve, a straight line whose slope equals the (negative of the) extra (or marginal) cost of additional cloth.",
      "supportingBullets": [
        "The Production-Possibility Curve",
        "The production-possibility curve",
        "(ppc) shows all combinations of amounts of different products that an economy can produce with full employment of its resources and maximum feasible productivity of these resources."
      ],
      "sourceType": "manual"
    },
    {
      "id": "ch03-kp-05",
      "title": "Principle of Absolute Advantage",
      "summary": "Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost.",
      "supportingBullets": [
        "A country is expected to export those goods in which it has an",
        "absolute cost advantage",
        "and import goods in which it has an"
      ],
      "sourceType": "manual"
    },
    {
      "id": "ch03-kp-07",
      "title": "Ricardo’s Theory of Trade",
      "summary": "Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost.",
      "supportingBullets": [
        "Mutually beneficial trade can occur even when one nation (say, the Rest of the World or ROW) is absolutely better at producing all goods.",
        "Although ROW is absolutely better, the key is",
        "relative prices"
      ],
      "sourceType": "manual"
    },
    {
      "id": "ch03-kp-08",
      "title": "The Ricardian Model",
      "summary": "Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost.",
      "supportingBullets": [
        "Hence, the U.S. has a",
        "comparative advantage",
        "in production of wheat, and a"
      ],
      "sourceType": "manual"
    }
  ],
  "caseStudies": [
    {
      "id": "ch03-case-01",
      "title": "10.If the number of labor hours to make a bushel of ...",
      "summary": "10.If the number of labor hours to make a bushel of wheat is reduced by half to 1 hour, this reinforces the U.S. comparative advantage in wheat. (In fact, the United States then has an absolute advantage in wheat.) The United States is still predicted to export wheat and import cloth. If, instead, the number of hours to make a yard of cloth is reduced by half to 2 hours, this reduces the U.S.",
      "sourceExcerpt": "10.If the number of labor hours to make a bushel of wheat is reduced by half to 1 hour, this reinforces the U.S. comparative advantage in wheat. (In fact, the United States then has an absolute advantage in wheat.) The United States is still predicted to export wheat and import cloth. If, instead, the number of hours to make a yard of cloth is reduced by half to 2 hours, this reduces the U.S. absolute disadvantage in cloth, but it does not change the pattern of comparative advantage. The relative price of cloth is now 1 (=2/2) bushel per yard in the United States with no trade, but this is still higher than the price of 0.67 bushel per yard in the rest of the world. The United States still has a comparative advantage in wheat, so the United States is still predicted to export wheat and import cloth."
    },
    {
      "id": "ch03-case-02",
      "title": "The story begins with Adam Smith and absolute advantage. (A box ...",
      "summary": "The story begins with Adam Smith and absolute advantage. (A box on mercantilism summarizes the view that Smith opposed and shows how mercantilist thinking continues today.) The analysis focuses on the productivity of labor (output per hour) in producing each of two products (wheat and cloth) in two countries (the United States and the rest of the world).",
      "sourceExcerpt": "The story begins with Adam Smith and absolute advantage. (A box on mercantilism summarizes the view that Smith opposed and shows how mercantilist thinking continues today.) The analysis focuses on the productivity of labor (output per hour) in producing each of two products (wheat and cloth) in two countries (the United States and the rest of the world). Smith examined the case of absolute advantage, in which labor productivity in producing one product is higher in one country and labor productivity in producing the other product is higher in the other country. With no trade each country must produce both products to meet national demands. The discussion of the Smith case focuses on the increase in global production efficiency achieved by shifting production in each country toward the product in which it has the higher labor productivity. National demands can be met by international trad"
    },
    {
      "id": "ch03-case-03",
      "title": "Smith's approach does not indicate what would happen if the same ...",
      "summary": "Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost.",
      "sourceExcerpt": "Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost. The Ricardian example is developed in more detail. The ratio of resource costs (labor hour input-output coefficients, the inverse of labor productivities) indicates the opportunity costs or relative prices of the products in each country with no trade. The difference in prices with no trade sets up the opportunity for arbitrage, with each good being exported from the initially low-price country and imported by the initially high-price country. The shift to a free trade equilibrium results in an equilibrium international price. Without informatio"
    },
    {
      "id": "ch03-case-04",
      "title": "2.Agree. Imports permit the country to consume more (or do more ...",
      "summary": "2.Agree. Imports permit the country to consume more (or do more capital investment using imported capital goods). Anything that is exported is not available for domestic consumption (or capital investment). Although this loss is bad, exports are like a necessary evil because exports are how the country pays for the imports that it wants.",
      "sourceExcerpt": "2.Agree. Imports permit the country to consume more (or do more capital investment using imported capital goods). Anything that is exported is not available for domestic consumption (or capital investment). Although this loss is bad, exports are like a necessary evil because exports are how the country pays for the imports that it wants."
    }
  ],
  "exercises": [
    {
      "number": 1,
      "question": "According to the Mercantilists, governments should",
      "options": {
        "A": "subsidize and encourage imports.",
        "B": "subsidize and encourage exports.",
        "C": "allow for free trade unencumbered by government regulations and restrictions.",
        "D": "not spend much on national defense."
      },
      "answer": "B",
      "answerText": "subsidize and encourage exports.",
      "topic": "Adam Smith's Theory of Absolute Advantage",
      "difficulty": "1 Easy",
      "bloom": "Remember"
    },
    {
      "number": 2,
      "question": "________ wrote the Wealth of Nations.",
      "options": {
        "A": "David Ricardo",
        "B": "Paul Samuelson",
        "C": "Adam Smith",
        "D": "Karl Marx"
      },
      "answer": "C",
      "answerText": "Adam Smith",
      "topic": "Adam Smith's Theory of Absolute Advantage",
      "difficulty": "1 Easy",
      "bloom": "Remember"
    },
    {
      "number": 3,
      "question": "When Adam Smith presented his theory of absolute advantage, he assumed that all \"value\" in an economy was determined by and measured in terms of the ________ used in the production of the various goods.",
      "options": {
        "A": "area of land",
        "B": "labor hours",
        "C": "amount of physical capital",
        "D": "amount of money"
      },
      "answer": "B",
      "answerText": "labor hours",
      "topic": "Adam Smith's Theory of Absolute Advantage",
      "difficulty": "1 Easy",
      "bloom": "Remember"
    },
    {
      "number": 4,
      "question": "Labor productivity refers to:",
      "options": {
        "A": "the number of units of output a worker can produce in one hour.",
        "B": "the money value of a good that all workers in a firm produce in one day.",
        "C": "the number of hours it takes a worker to produce one unit of output.",
        "D": "the total numbers of hours it takes all the workers in a firm to produce a given money value of a good in one day."
      },
      "answer": "A",
      "answerText": "the number of units of output a worker can produce in one hour.",
      "topic": "Adam Smith's Theory of Absolute Advantage",
      "difficulty": "1 Easy",
      "bloom": "Remember"
    },
    {
      "number": 5,
      "question": "Which of the following is true of mercantilism?",
      "options": {
        "A": "Mercantilists believed that free trade is always beneficial for the trading nations.",
        "B": "Mercantilists believed that under free trade each of the trading countries benefit equally.",
        "C": "Mercantilists believed that a nation does not benefit directly from its exports.",
        "D": "Mercantilism believed that national well-being was based on national holdings of gold and silver."
      },
      "answer": "D",
      "answerText": "Mercantilism believed that national well-being was based on national holdings of gold and silver.",
      "topic": "Adam Smith's Theory of Absolute Advantage",
      "difficulty": "1 Easy",
      "bloom": "Remember"
    },
    {
      "number": 6,
      "question": "If Country X has higher labor productivity in the production of umbrellas than the rest of the world, we would say that Country X has a(n) ________ in the production of umbrellas.",
      "options": {
        "A": "comparative advantage",
        "B": "absolute advantage",
        "C": "absolute disadvantage",
        "D": "comparative disadvantage"
      },
      "answer": "B",
      "answerText": "absolute advantage",
      "topic": "Adam Smith's Theory of Absolute Advantage",
      "difficulty": "1 Easy",
      "bloom": "Remember"
    },
    {
      "number": 7,
      "question": "Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. The number of labor hours required to produce one unit of Good X in Country A is Productivity Country A Country B Good X 1.00 0.50 Good Y 0.20 0.70",
      "options": {
        "A": "0.5.",
        "B": "1.",
        "C": "1.43.",
        "D": "2."
      },
      "answer": "B",
      "answerText": "1.",
      "topic": "Ricardo's Theory of Comparative Advantage",
      "difficulty": "2 Medium",
      "bloom": "Understand"
    },
    {
      "number": 8,
      "question": "Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. The number of labor hours required to produce one unit of Good Y in Country B is Productivity Country A Country B Good X 1.00 0.50 Good Y 0.20 0.70",
      "options": {
        "A": "0.5.",
        "B": "1.",
        "C": "1.43.",
        "D": "2."
      },
      "answer": "C",
      "answerText": "1.43.",
      "topic": "Ricardo's Theory of Comparative Advantage",
      "difficulty": "2 Medium",
      "bloom": "Understand"
    },
    {
      "number": 9,
      "question": "Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. Which of the following statements is true? Productivity Country A Country B Good X 1.00 0.50 Good Y 0.20 0.70",
      "options": {
        "A": "Country B has an absolute advantage in the production of both Good X and Good Y.",
        "B": "Country A has an absolute advantage in the production of Good X.",
        "C": "Country A has an absolute advantage in the production of both Good X and Good Y.",
        "D": "Country B has an absolute advantage in the production of Good X."
      },
      "answer": "B",
      "answerText": "Country A has an absolute advantage in the production of Good X.",
      "topic": "Ricardo's Theory of Comparative Advantage",
      "difficulty": "2 Medium",
      "bloom": "Understand"
    },
    {
      "number": 10,
      "question": "Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. Country B has an absolute advantage in the production of Productivity Country A Country B Good X 1.00 0.50 Good Y 0.20 0.70",
      "options": {
        "A": "neither Good X nor Good Y.",
        "B": "both Good X and Good Y.",
        "C": "only Good X.",
        "D": "only Good Y."
      },
      "answer": "D",
      "answerText": "only Good Y.",
      "topic": "Ricardo's Theory of Comparative Advantage",
      "difficulty": "2 Medium",
      "bloom": "Understand"
    },
    {
      "number": 11,
      "question": "Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. If Country A transfers one labor hour from the production of Good Y to the production of Good X, total world production of Good X will ________ by ________ unit(s). Productivity Country A Country B Good X 1.00 0.50 Good Y 0.20 0.70",
      "options": {
        "A": "increase; one",
        "B": "decrease; 1.43",
        "C": "increase; 0.5",
        "D": "decrease; 0.7"
      },
      "answer": "A",
      "answerText": "increase; one",
      "topic": "Ricardo's Theory of Comparative Advantage",
      "difficulty": "2 Medium",
      "bloom": "Understand"
    },
    {
      "number": 12,
      "question": "Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. If Country B transfers one labor hour from the production of Good X to the production of Good Y, total world production of Good Y will ________ by ________ unit(s). Productivity Country A Country B Good X 1.00 0.50 Good Y 0.20 0.70",
      "options": {
        "A": "increase; 0.7",
        "B": "decrease; one",
        "C": "decrease; 1.5",
        "D": "increase; 0.5"
      },
      "answer": "A",
      "answerText": "increase; 0.7",
      "topic": "Ricardo's Theory of Comparative Advantage",
      "difficulty": "2 Medium",
      "bloom": "Understand"
    }
  ],
  "handoutMarkdown": "# 第3章 Why Everybody Trades: Comparative Advantage\n\n## 章节概览\nWhy Everybody Trades: Comparative Advantage This chapter extends the analysis of international trade to consider trade in a multiple-product economy. An economy composed of two products is useful to bring out insights about international trade. This general equilibrium approach explicitly shows the effects of resource reallocations between industries. The chapter culminates in showing the importance of comparative advantage for understanding why countries trade.\n\n## 知识点\n### 1. Adam Smith's Theory of Absolute Advantage\n- 教学说明：The story begins with Adam Smith and absolute advantage. (A box on mercantilism summarizes the view that Smith opposed and shows how mercantilist thinking continues today.) The analysis focuses on the productivity of labor (output per hour) in producing each of two products (wheat and cloth) in two countries (the United States and the rest of the world).\n- 支撑要点：Absolute Advantage\n- 支撑要点：In his\n- 支撑要点：Wealth of Nations,\n- 来源类型：manual\n\n### 2. Ricardo's Theory of Comparative Advantage\n- 教学说明：Why Everybody Trades: Comparative Advantage\n- 支撑要点：Mutually beneficial trade can occur even when one nation (say, the Rest of the World or ROW) is absolutely better at producing all goods.\n- 支撑要点：Although ROW is absolutely better, the key is\n- 支撑要点：relative prices\n- 来源类型：manual\n\n### 3. Ricardos Constant Costs and the Production-Possibilities Curve\n- 教学说明：The chapter uses the Ricardian example to introduce a key analytical device—the production possibility curve, which shows all combinations of outputs of different goods that an economy can produce with full employment of resources and maximum productivity. The resource costs of producing each product in the country and the total amount of labor hours available in the country are used to graph the country's production possibility curve, a straight line whose slope equals the (negative of the) extra (or marginal) cost of additional cloth.\n- 支撑要点：The Production-Possibility Curve\n- 支撑要点：The production-possibility curve\n- 支撑要点：(ppc) shows all combinations of amounts of different products that an economy can produce with full employment of its resources and maximum feasible productivity of these resources.\n- 来源类型：manual\n\n### 4. Principle of Absolute Advantage\n- 教学说明：Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost.\n- 支撑要点：A country is expected to export those goods in which it has an\n- 支撑要点：absolute cost advantage\n- 支撑要点：and import goods in which it has an\n- 来源类型：manual\n\n### 5. Ricardo’s Theory of Trade\n- 教学说明：Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost.\n- 支撑要点：Mutually beneficial trade can occur even when one nation (say, the Rest of the World or ROW) is absolutely better at producing all goods.\n- 支撑要点：Although ROW is absolutely better, the key is\n- 支撑要点：relative prices\n- 来源类型：manual\n\n### 6. The Ricardian Model\n- 教学说明：Smith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost.\n- 支撑要点：Hence, the U.S. has a\n- 支撑要点：comparative advantage\n- 支撑要点：in production of wheat, and a\n- 来源类型：manual\n\n## 案例\n### 案例 1: 10.If the number of labor hours to make a bushel of ...\n10.If the number of labor hours to make a bushel of wheat is reduced by half to 1 hour, this reinforces the U.S. comparative advantage in wheat. (In fact, the United States then has an absolute advantage in wheat.) The United States is still predicted to export wheat and import cloth. If, instead, the number of hours to make a yard of cloth is reduced by half to 2 hours, this reduces the U.S.\n\n### 案例 2: The story begins with Adam Smith and absolute advantage. (A box ...\nThe story begins with Adam Smith and absolute advantage. (A box on mercantilism summarizes the view that Smith opposed and shows how mercantilist thinking continues today.) The analysis focuses on the productivity of labor (output per hour) in producing each of two products (wheat and cloth) in two countries (the United States and the rest of the world).\n\n### 案例 3: Smith's approach does not indicate what would happen if the same ...\nSmith's approach does not indicate what would happen if the same country has absolute advantage in both products. Ricardo took up this case and demonstrated the principle of comparative advantage—a country will export products that it can produce at low opportunity cost and import products that it would otherwise produce at high opportunity cost.\n\n### 案例 4: 2.Agree. Imports permit the country to consume more (or do more ...\n2.Agree. Imports permit the country to consume more (or do more capital investment using imported capital goods). Anything that is exported is not available for domestic consumption (or capital investment). Although this loss is bad, exports are like a necessary evil because exports are how the country pays for the imports that it wants.\n\n## 习题\n### 题目 1\nAccording to the Mercantilists, governments should\n- A) subsidize and encourage imports.\n- B) subsidize and encourage exports.\n- C) allow for free trade unencumbered by government regulations and restrictions.\n- D) not spend much on national defense.\n\n### 题目 2\n________ wrote the Wealth of Nations.\n- A) David Ricardo\n- B) Paul Samuelson\n- C) Adam Smith\n- D) Karl Marx\n\n### 题目 3\nWhen Adam Smith presented his theory of absolute advantage, he assumed that all \"value\" in an economy was determined by and measured in terms of the ________ used in the production of the various goods.\n- A) area of land\n- B) labor hours\n- C) amount of physical capital\n- D) amount of money\n\n### 题目 4\nLabor productivity refers to:\n- A) the number of units of output a worker can produce in one hour.\n- B) the money value of a good that all workers in a firm produce in one day.\n- C) the number of hours it takes a worker to produce one unit of output.\n- D) the total numbers of hours it takes all the workers in a firm to produce a given money value of a good in one day.\n\n### 题目 5\nWhich of the following is true of mercantilism?\n- A) Mercantilists believed that free trade is always beneficial for the trading nations.\n- B) Mercantilists believed that under free trade each of the trading countries benefit equally.\n- C) Mercantilists believed that a nation does not benefit directly from its exports.\n- D) Mercantilism believed that national well-being was based on national holdings of gold and silver.\n\n### 题目 6\nIf Country X has higher labor productivity in the production of umbrellas than the rest of the world, we would say that Country X has a(n) ________ in the production of umbrellas.\n- A) comparative advantage\n- B) absolute advantage\n- C) absolute disadvantage\n- D) comparative disadvantage\n\n### 题目 7\nConsider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. The number of labor hours required to produce one unit of Good X in Country A is Productivity Country A Country B Good X 1.00 0.50 Good Y 0.20 0.70\n- A) 0.5.\n- B) 1.\n- C) 1.43.\n- D) 2.\n\n### 题目 8\nConsider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. The number of labor hours required to produce one unit of Good Y in Country B is Productivity Country A Country B Good X 1.00 0.50 Good Y 0.20 0.70\n- A) 0.5.\n- B) 1.\n- C) 1.43.\n- D) 2.\n\n## 参考答案\n- 题目 1: 答案：B | 选项内容：subsidize and encourage exports. | Topic：Adam Smith's Theory of Absolute Advantage | Difficulty：1 Easy\n- 题目 2: 答案：C | 选项内容：Adam Smith | Topic：Adam Smith's Theory of Absolute Advantage | Difficulty：1 Easy\n- 题目 3: 答案：B | 选项内容：labor hours | Topic：Adam Smith's Theory of Absolute Advantage | Difficulty：1 Easy\n- 题目 4: 答案：A | 选项内容：the number of units of output a worker can produce in one hour. | Topic：Adam Smith's Theory of Absolute Advantage | Difficulty：1 Easy\n- 题目 5: 答案：D | 选项内容：Mercantilism believed that national well-being was based on national holdings of gold and silver. | Topic：Adam Smith's Theory of Absolute Advantage | Difficulty：1 Easy\n- 题目 6: 答案：B | 选项内容：absolute advantage | Topic：Adam Smith's Theory of Absolute Advantage | Difficulty：1 Easy\n- 题目 7: 答案：B | 选项内容：1. | Topic：Ricardo's Theory of Comparative Advantage | Difficulty：2 Medium\n- 题目 8: 答案：C | 选项内容：1.43. | Topic：Ricardo's Theory of Comparative Advantage | Difficulty：2 Medium\n\n## AI / NextLab 使用建议\n- Ricardo Comparative Advantage Lab：将《Why Everybody Trades: Comparative Advantage》对应的理论或政策机制放到贸易分析实验室中做交互式验证。 https://digitconnection.ai/nextlab/\n",
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