Multiple Choice
If domestically 3X=3Y in nation A,while 1X=1Y domestically in nation B:
A) there will be no trade between the two nations
B) the relative price of X is the same in both nations
C) the relative price of Y is the same in both nations
D) all of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q2: In the trade between a small and
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