Economist Jan Tinbergen developed a formula, called ______, to predict which nations would engage in bilateral trade.
A) the trade deficit equation
B) the index of equality
C) the Tinbergen ratio
D) the gravity equation in trade

Question

Quizplus · Accepted Answer

The formula developed by Jan Tinbergen to predict which nations would engage in bilateral trade is known as the gravity equation in trade, which takes into account factors such as the size of the economies and the distance between them.

Economist Jan Tinbergen Developed a Formula, Called ______, to Predict