1) __________________ first used the relationships of international trade to explain why some nations are rich...
1) __________________ first used the relationships of international trade to explain why some nations are rich and others are not.
a. Adam Smith
b. David Ricardo
c. Robert Malthus
d. Alan Greenspan
2. Each nation must benefit from trade or they will remain _______________ and not trade.
a. self sufficient
b. cost ratio
c. absolute advantage
d. comparative advantage
Homework Answers
1. Adam Smith first used the relationships of international trade to explain why some nations are rich and others are not. Hence, option(A) is correct.
2. Each nation must benefit from trade or they will remain self sufficient and not trade. Hence, option(A) is correct.
Add Answer to:
1) __________________ first used the relationships of
international trade to explain why some nations are rich...
1.Economic theory: a. seeks to explain economic events b. seeks to predict economic events c. abstracts...
1.Economic theory: a. seeks to explain economic events b. seeks to predict economic events c. abstracts from the many detail that surrounds an economic event d. all of the above 2.The Mercantilists did not advocate: a. free trade b. stimulating the nation's exports c. restricting the nations' imports d. the accumulation of gold by the nation 3.According to Adam Smith, international trade was based on: a. absolute advantage b. comparative advantage c. both absolute and comparative advantage d. neither absolute...
Trade Theories, a Historical Approach Free trade refers to a situation where a government does not...
Trade Theories, a Historical Approach Free trade refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country, or what they can produce and sell to another country. The economic arguments surrounding the benefits and costs of free trade in goods and services are not abstract academic ones. International trade theory has shaped the economic policy of many nations for the past 50 years. The textbook reviews...
and published in 1) Historians of economic thought often describe written by as the first real...
and published in 1) Historians of economic thought often describe written by as the first real exposition of an economic model. A) "Of the Balance of Trade," David Hume, 1776 B) "Wealth of Nations," David Hume, 1758 C) "Wealth of Nations," Adam Smith, 1758 D) "Wealth of Nations," Adam Smith, 1776 E) "Of the Balance of Trade," David Hume, 1758 2) An important insight of international trade theory is that when two countries engage in voluntary trade A) one country...
Discuss Adam Smith’s several theories of value. Explain Adam Smith’s analysis of the role of supply...
Discuss Adam Smith’s several theories of value. Explain Adam Smith’s analysis of the role of supply and demand in relation to the determination of short run and natural price. Why does Adam Smith reject the labor theory of value? What are the primary causes and factors in Smith’s view of the process of economic growth? Discuss Adam Smith’s several theories of wages. Why does Ricardo abandon the pure labor theory of value – and to what extent does he abandon...
liders and manufacturers 23. Who argued that manufacturing was productive and distinguished value from price because...
liders and manufacturers 23. Who argued that manufacturing was productive and distinguished value from price because price can only originate in exchange? Vincent, Marquis de Gournay Etienne Bonnot de Condillac François Véron Duverger de Forbannais D Ferdinando Galiani 24. Which figure is NOT identified with the German Enlightenment? A G. W.F. Hegel Immanuel Kant c Johann Gottfried von Herder 25. In An Essay on the History of Civil Society (1767), Adam Ferguson famously wrote that “Every step and every movement...
1) Which of the following statements is the best description of absolute advantage? a) Each nation...
1) Which of the following statements is the best description of absolute advantage? a) Each nation should produce these goods that it can produce more efficiently and effectively than other nations, and buy the goods it cannot produce as efficiently as the nations that can. b) A nation should produce those goods for which domestic demand is comparatively strong, and should import those goods for which domestic demand is comparatively weak. c) The best way for a nation to ensure...
Only answer if you are a real economist, and sure about your answers . Because I’m...
Only answer if you are a real economist, and sure about your
answers . Because I’m sick of people posting random and waste my
questions credit !
Explain why that’s the point of question here . Explain and
give more details when you choice
1) The trade-to-GDP ratio for a nation that had S600 million in exports, $400 million in imports, and GDP of $2,000 million would be A) 0.1 B) 0.2 C) 0.5 D) -0.1 2) A relative measure...
Question 1 (6 points) Which of the following is true? A) David Ricardo proposed the theory...
Question 1 (6 points) Which of the following is true? A) David Ricardo proposed the theory of absolute advantage as the basis for trade. B) Absolute advantage is based on comparing the opportunity costs of trading partners. C) The Ricardian model assumes labor is perfectly mobile. D) Adam Smith proposed the theory of comparative advantage as the basis for trade in The Wealth of Nations Question 2 (6 points) Answer the question(s) below based on the information in the following...
asap pls MULTIPLE CHOICE. Choose the one alternative that best completes the completes the statement or...
asap pls
MULTIPLE CHOICE. Choose the one alternative that best completes the completes the statement or answers the question. 1) According to Adam Smith, the wealth of a nation lay in: A) the treasury of the King. B) the number of colonies that the nation controlled. C) gold and silver. D) the achievement of an abundance of the necessities of life. 2) "In a tribe of hunters or shepherds a particular person makes bows and arrows with more readiness and...
Which economic theory best explains current international trade and why? a) Mercantilism b) Absolute Advantage c)...
Which economic theory best explains current international trade and why? a) Mercantilism b) Absolute Advantage c) Comparative advantage d) Factors Proportions Theory e) International Product Life Cycle f) Porter's Theory of National Competitive
and published in 1) Historians of economic thought often describe written by as the first real exposition of an economic model. A) "Of the Balance of Trade," David Hume, 1776 B) "Wealth of Nations," David Hume, 1758 C) "Wealth of Nations," Adam Smith, 1758 D) "Wealth of Nations," Adam Smith, 1776 E) "Of the Balance of Trade," David Hume, 1758 2) An important insight of international trade theory is that when two countries engage in voluntary trade A) one country...
liders and manufacturers 23. Who argued that manufacturing was productive and distinguished value from price because price can only originate in exchange? Vincent, Marquis de Gournay Etienne Bonnot de Condillac François Véron Duverger de Forbannais D Ferdinando Galiani 24. Which figure is NOT identified with the German Enlightenment? A G. W.F. Hegel Immanuel Kant c Johann Gottfried von Herder 25. In An Essay on the History of Civil Society (1767), Adam Ferguson famously wrote that “Every step and every movement...
Only answer if you are a real economist, and sure about your
answers . Because I’m sick of people posting random and waste my
questions credit !
Explain why that’s the point of question here . Explain and
give more details when you choice
1) The trade-to-GDP ratio for a nation that had S600 million in exports, $400 million in imports, and GDP of $2,000 million would be A) 0.1 B) 0.2 C) 0.5 D) -0.1 2) A relative measure...
Question 1 (6 points) Which of the following is true? A) David Ricardo proposed the theory of absolute advantage as the basis for trade. B) Absolute advantage is based on comparing the opportunity costs of trading partners. C) The Ricardian model assumes labor is perfectly mobile. D) Adam Smith proposed the theory of comparative advantage as the basis for trade in The Wealth of Nations Question 2 (6 points) Answer the question(s) below based on the information in the following...
asap pls
MULTIPLE CHOICE. Choose the one alternative that best completes the completes the statement or answers the question. 1) According to Adam Smith, the wealth of a nation lay in: A) the treasury of the King. B) the number of colonies that the nation controlled. C) gold and silver. D) the achievement of an abundance of the necessities of life. 2) "In a tribe of hunters or shepherds a particular person makes bows and arrows with more readiness and...
Most questions answered within 3 hours.
-
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 3 minutes ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 3 minutes ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 4 minutes ago -
The reaction rate of CO and NO2 in the reaction
CO(g) + NO2(g) → CO2(g) +...
asked 4 minutes ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 5 minutes ago -
Imagine that a chemist puts 6.40 mol each of
C3H8 and O2 in a 1.00-L container...
asked 21 minutes ago -
How much money should be invested today in order to have $8340
at the end of...
asked 25 minutes ago -
You are conducting research for a hospital and issue a survey to
patients.
Based on the...
asked 25 minutes ago -
What might be a negative mutation that would hinder the
bug population?
asked 35 minutes ago -
A company just paid a dividend of $1.50 per share. The consensus
forecast of financial analysts...
asked 31 minutes ago -
A mass of 0.50 g of an unknown acid HA required 20.0 mL of 0.25
M...
asked 41 minutes ago -
Mitch is a director and officer of Numero Uno, Inc. Mitch makes
a marketing decision that...
asked 41 minutes ago