Multiple Choice
The Ricardian model of comparative advantage includes all of the following assumptions EXCEPT
A) it is only based on two nations and two products.
B) product quality varies among nations.
C) labor is the only factor of production.
D) labor can move freely within a nation.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: According to J.S.Mill, if we know the
Q6: If the international terms of trade settles
Q7: Assume that the United States is more
Q8: If Canada experiences constant opportunity costs, its
Q9: Critics maintain that outsourcing by American businesses
Q11: Is it possible to add up the
Q12: International trade leads to increased welfare if
Q13: The earliest theorist to discuss the principle
Q14: In Adam Smith's trade theory, _ is
Q15: If a country's terms of trade worsens,