Multiple Choice
A difference in relative commodity prices between two nations can be based upon a difference in:
A) factor endowments
B) technology
C) tastes
D) all of the above
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q3: Which of the following statements is true?<br>A)The
Q4: If with one hour of labor time
Q5: According to Adam Smith,international trade was based
Q6: If in a two-nation (A and B),two-commodity
Q7: With reference to the statement in Question
Q8: The Ricardian trade model has been empirically<br>A)verified<br>B)rejected<br>C)not
Q9: What proportion of international trade is based
Q10: The commodity in which the nation has
Q11: Ricardo explained the law of comparative advantage
Q12: The Mercantilists did not advocate:<br>A)free trade<br>B)stimulating the