A no-trade world will have which of the following characteristics:
A) countries will have same relative endowments of production factors
B) consumers across countries will have identical and homogenous tastes
C) there will be no distortions or externalities
D) all of the above
Correct Answer:
Verified
Q1: What are the four factor endowments?
A)national resources,
Q2: The Heckscher- Ohlin model is principally focused
Q4: Transportation cost of trade affects:
A)pattern of trade
B)boundaries
Q5: What was the first economic theory of
Q6: According to Adam Smith, the trade between
Q7: According to the principle of comparative advantage:
A)south
Q8: Globalization refers to:
A)lower incomes worldwide
B)less foreign trade
Q9: Comparative Cost Trade Theory is given by
A)adam
Q10: ……………..is the payment method most often used
Q11: Key controllable factors in global marketing are:
A)government
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