Which one of the following is a primary assumption of the free-trade theories of specialization? Group...
Which one of the following is a primary assumption of the free-trade theories of specialization?
Group of answer choices
Domestic resources are unable to move from the production of one good to another.
Countries have objectives other than economic efficiency.
Specialization triggers unemployment.
Resources are immobile internationally.
Homework Answers
Answer
Option 4
Resources are immobile internationally
The international trade is possible with the specification in a good and the specification is based on the higher productivity and that is possible even if the rescues move internationally in any country so the assumption is that the resources are immobile and it moves from the production of one good to other in domestic market only.
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1.The following statements about intra-industry trade
are true, except one. Which one?
a. It reflects the trade in similar goods between countries.
b. It results from economies of scale.
c. It results from comparative advantage.
d. It does not affect income distribution as much as
inter-industry trade.
2.Consider the following diagram. P is the autarky
production point, and C is the free trade consumption point.
P1 represents autarky prices and P2
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In this case, the autarky consumption...
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