The theory of absolute advantage is categorized as a classical theory of international trade.
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Q5: Both exporting and importing are taken into
Q6: The theory of mercantilism viewed international trade
Q7: The Heckscher-Ohlin theory proposed that nations will
Q8: The product life cycle theory is the
Q9: The strategic trade theory was mainly proposed
Q11: Factor endowments is one of the four
Q12: Strategic trade theory advocates mercantilist policy for
Q13: Economist Adam Smith proposed the theory of
Q14: Classical theories are based on the assumption
Q15: Trade deficit occurs when a nation exports
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