Foundations Of Modern Trade Theory

A. Different currencies are an obstacle to international trade
B. Goods are more mobile internationally than are resources
C. Resources are more mobile internationally that are goods
D. A country’s exports should always exceed its imports

A. Trade would depend on difference in demand conditions
B. Trade would depend on economies of large-scale production
C. Trade would depend on the use of different currencies
D. There would be no basis for gainful trade

A. One DVD
B. Two DVDs
C. Three DVDs
D. Four DVDs

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

A. Export steel
B. Export DVDs
C. Exports steel and DVDs
D. There is no basis for gainful specialization and trade

A. One ton of steel
B. Two tons of steel
C. Three tons of steel
D. Four tons of steel