International trade was not important to the industrializing U.S. sinc

International trade was not important to the industrializing U.S. since it was relatively rich in raw materials and land.

Indicate whether the statement is true or false

ANSWER

False (The producers in the U.S. and many producers in the rest of the world relied on production operating on the basis of comparative advantage. They produced those goods and services that minimized opportunity costs around and across regions, the nation and the globe. Those items were then traded for those goods in which producers possessed a comparative disadvantage. Market size and economic conditions permitted many U.S. producers to trade with each other.)