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Confused about two curses

I'm a bit confused about the following curses: Amplify Damage and [I think it was called] Lower Resists.
Amplify Damage: does this make the damage 2x what it is whether it be magic damage, elemental damage, or physical damage? If it does, then wouldn't this be better than the lower resists, as it's basically a 100% lower resist that not only works for elemental/poison, but also physical and magic?
I think I'm confusing something here - can somebody clarify?
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