The terms of trade is given by the prices ?

Related Mcqs:

With international trade, what would be the maximum number of DVDs that Japan would be willing to export to South Korea in exchange for each ton of steel ?

A. One DVD B. Two DVDs C. Three DVDs D. Four DVDs...

If the autarky price of S were lower in country A than in country B then if trade were allowed ?

A. A would likely export S to B B. A would likely import S from B C. neither country would want to trade D. None of the above...

John Stuart Mill was the founder of the ?

A. Theory of reciprocal demand B. Theory of absolute advantage C. Theory of comarative advantage D. Theory of mercantilism...

If countries were to trade along the lines of comparative advantage ?

A. A would export X to B B. A would export Y to B C. Neither country would want to trade D. None of the above...

In autarky the relative price of wine, in terms of beer, in Country B is ?

A. 1W = 3B B. 1W = 4 1/2B C. 1W = 5B D. 1W = 6B...