Author: Adden wafa

A. actual differences in labor productivity between countries
B. relative differences in labor productivity between countries
C. Both (a) and (b)
D. Neither (a) nor (b)

A. Absolute advantage
B. Comparative advantage
C. Physical advantage
D. Which way the wind blows

A. The labor theory of value
B. How much the autarky price differs from international terms of trade change
C. The fact that a country must lose from trade
D. All of the above

A. Is the philosophy of free international trade?
B. Was a system of export promotion and barriers to imports practiced by governments?
C. Was praised by Adam Smith in the Wealth of Nations
D. Both (a) and (c)

A. There is no basis for gainful trade for either country
B. Both countries gain from trade
C. Only one country gains from trade
D. One country gain and the other country loses from trade

A. Adam Smith
B. David Ricardo
C. Eli Heckscher
D. Berti IOhlin

A. South Korea should export steel
B. South Korea should export steel and DVDs
C. Japan should export steel
D. Japan should export steel and DVDs

A. One-half ton of steel
B. One ton of steel
C. One and one-half tons of steel
D. Two tons of steel

A. evidence against the classical model
B. evidence against the Heckscher-Ohlin model
C. Support for the Ricardian modal
D. Support for the Heckscher-Ohlin model

A. Ricardian theory of comparative
B. Heckscher Ohl in theory of comparative advantage
C. Linder theory of overlapping demand all of the above
D. None of these