Considered to be the first theory of international trade,the principal assertion of mercantilism is that
A) countries differ in their ability to produce goods efficiently.
B) gold and silver are the mainstays of a country's wealth and essential to vigorous commerce.
C) countries should specialize in the production of goods for which they have an absolute advantage.
D) differences in labor productivity between nations underlie the notion of comparative advantage.
E) resources can move freely from the production of one good to another within a nation.
Correct Answer:
Verified
Q23: Porter's theory suggests that it is in
Q24: An inconsistency in the mercantilist doctrine, as
Q25: Salcia is a country that depends heavily
Q26: According to Michael Porter, government can influence
Q26: Which of the following terms best represents
Q27: Which of the following is in a
Q32: Which of the following factors is taken
Q33: Which of the following is consistent with
Q34: The government of Murinca does not attempt
Q38: Porter's theory has been subjected to detailed
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents