Multiple Choice
The basics and gains from international trade under the theory of opportunity cost is determined by
A) Homogeneity of labours
B) The shape of the substitution curve or production possibility curve under different cost conditions
C) Imperfect competition in factor and commodity markets
D) Change in technology
Correct Answer:
Verified
Correct Answer:
Verified
Q14: In Ricardian theory of international trade, the
Q15: According to Adam Smith, diversification of labour
Q16: Adam Smith favoured<br>A)Free trade among nations<br>B)Regulation of
Q17: David Ricardo believed that the international trade
Q18: The price criterion if the H-O theory
Q20: Heckscher-Ohlin theory of trade is based on<br>A)Two-by-two-by-two
Q21: According to Ricardo, trade is possible between
Q22: According to Ohlin, the comparative cost differences
Q23: Which of the following is the cause
Q24: According to Adam Smith, free trade is