Economic theory suggests that international trade is primarily due to absolute advantage. strategic advantage. comparative advantage....
Homework Answers
Ans: Comparative advantage
Explanation:
International trade enables a nation to produce the good in which production it has comparative advantage. A country enjoys comparative advantage in the producion of a good, whose production involves less opportunity cost as compared to other countries. In other words, Comparative advantage means the ability of a country to produce a particular good or service at a lower opportunity cost than another country.
Add Answer to:
Economic theory suggests that international trade is primarily
due to
absolute advantage.
strategic advantage.
comparative advantage....
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
International trade is considered to be an important component of the economy. Explain how the Theory of Absolute Advantage, Theory of Comparative Advantage and the Hecksher-Ohlin Theory determine w...
International trade is considered to be an important component of the economy. Explain how the Theory of Absolute Advantage, Theory of Comparative Advantage and the Hecksher-Ohlin Theory determine what a nation should produce for trade. Some economists argue that countries must have free, unregulated trade, do you agree? Why or why not?
What are comparative and absolute advantage? Why is comparative advantage, in your opinion, relevant for international...
What are comparative and absolute advantage? Why is comparative advantage, in your opinion, relevant for international trade?
question/ The economic argument supporting free trade is based on the principle of: absolute advantage comparative...
question/ The economic argument supporting free trade is based on the principle of: absolute advantage comparative advantage. protection tariffs and quotas.
David Ricardo's theory of comparative advantage says that: Multiple Choice free international trade increases global e...
David Ricardo's theory of comparative advantage says that: Multiple Choice free international trade increases global economic welfare. free trade is a necessary, but not a sufficient, condition for mercantilism. All of the options. the benefits of free trade is a short-run phenomenon that will inevitably be reversed by political rent-seeking behavior. international trade is a zero-sum game in which one trading partner gains the expense of another trading partner.
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...
Regional Economic Integration Agreements Consistent with the predictions of international trade theory and particularly with the theory...
Regional Economic Integration Agreements Consistent with the predictions of international trade theory and particularly with the theory of comparative advantage (see Chapter 6), agreements designed to promote free trade within regions are believed to produce gains from trade for all member countries. These agreements define regional economic integration. Regional economic integration (REI) refers to agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barriers to the free flow of goods, services, and factors of production among...
David Ricardo's theory of comparative advantage says that: Multiple Choice the benefits of free trade is...
David Ricardo's theory of comparative advantage says that: Multiple Choice the benefits of free trade is a short-run phenomenon that will inevitably be reversed by political rent-seeking behavior. free international trade increases global economic welfare. All of the options. international trade is a zero-sum game in which one trading partner gains the expense of another trading partner. free trade is a necessary, but not a sufficient, condition for mercantilism.
The following are correct statements about Comparative and Absolute Advantage, EXCEPT: a) Absolute Advantage means being...
The following are correct statements about Comparative and Absolute Advantage, EXCEPT: a) Absolute Advantage means being able to produce more with the same economic resources. b) Comparative Advantage means being able to produce with the lowest opportunity cost. c) Absolute Advantage does not imply Comparative Advantage. d) Efficiency and Optimality can be attained if we specialize and trade according to our Absolute Advantages. (The answer is not C)
One of the most controversial aspects of is that it supports government intervention and strategic trade...
One of the most controversial aspects of is that it supports government intervention and strategic trade policy. Multiple Choice O Heckscher-Ohlin theory O the theory of absolute advantage O O new trade theory O product life-cycle theory O O the theory of comparative advantage
question/ The economic argument supporting free trade is based on the principle of: absolute advantage comparative advantage. protection tariffs and quotas.
Regional Economic Integration Agreements Consistent with the predictions of international trade theory and particularly with the theory of comparative advantage (see Chapter 6), agreements designed to promote free trade within regions are believed to produce gains from trade for all member countries. These agreements define regional economic integration. Regional economic integration (REI) refers to agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barriers to the free flow of goods, services, and factors of production among...
One of the most controversial aspects of is that it supports government intervention and strategic trade policy. Multiple Choice O Heckscher-Ohlin theory O the theory of absolute advantage O O new trade theory O product life-cycle theory O O the theory of comparative advantage
Most questions answered within 3 hours.
-
Write a program to solve the Josephus problem, with the following
modification:
Sample Input:
./a.out n...
asked 2 hours ago -
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 2 hours ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 3 hours ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 5 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 4 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 4 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 6 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 6 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 6 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 6 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 6 hours ago -
Why are polymers not typically casted into products?
asked 6 hours ago