Suppose that many auto and steel plants close in a country. thousands of workers lose their jobs in a short period. if the country has been enjoying prosperous times, it may now be headed into what phase of the business cycle?

Country a can produce product x, but it can also buy it at a cheap rate from country b. which of the following courses of action is suitable in this situation according to adam smith's theory of absolute advantage? question 35 options: 1) country a should import product x from country b and it should not attempt to produce it at home. 2) country a should partly import the product and produce it domestically. 3) country a should produce more of product x and should attempt to obtain an absolute advantage for the product. 4) country a should subsidize the production of product x to obtain an absolute advantage over country b.