This chapter identifies four different gains from trade: lower prices of goods and services, access to natural resources, access to global markets, and access to new ideas. For each of the following...

This chapter identifies four different gains from trade: lower prices of goods and services, access to natural resources, access to global markets, and access to new ideas. For each of the following situations, say which gain from trade is the most important and explain why. (LO14-2) a) In 2015, Microsoft received $50 billion in revenue from customers outside the United States. b) The United States imports 94 percent of the platinum that it uses. c) The Wii video game machine, designed in Japan by Nintendo, was a big hit in the United States. d) The price of furniture in the United States has dropped as more has been imported from China.