Ricardo's theory of trade discredited the school of economic thought that believed inflows of gold or silver as a result of exporting helped a nation, while outflows of gold or silver as a result of importing hurt a nation. This school of economic thought was known as:
A) export preference.
B) mercantilism.
C) monetary economics.
D) price-specie-flow mechanism.
Correct Answer:
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Q11: Which of the following is NOT a
Q12: When a country requires more resources to
Q13: According to Ricardo:
A) all countries can gain
Q14: The primary explanation of trade among nations
Q15: David Ricardo believed that:
A) trade is a
Q17: What is the MOST likely reason why
Q18: When a country requires fewer resources to
Q19: In some cases, a country can export
Q20: In some cases, a country can export
Q21: In the Ricardian model, the marginal product
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