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.Management Sciences
Category: Foundations Of Modern Trade Theory
G. MecDougall showed in his tests that ?
A. relatively higher U.S labor productivity was associated with relatively higher U.K export ratios
B. relatively high U.K labor productivity was associated with relatively higher U.K export ratios
C. Labor productivity ratios and export ratios were not associated with each other
D. None of the above
In autarky equilibrium ?
A. Production equals consumption
B. Exports equal imports
C. there is no trade
D. All of the above
Country A has the comparative advantage in ?
A. Wine
B. Beer
C. Both wine and beer
D. Neither wine nor beer
The terms of trade is given by the prices ?
A. Paid for all goods exported by the home country
B. Received for all goods exported by the home country
C. Received for exports and paid for imports
D. Of primary products as opposed to manufactured products
With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD ?
A. One-half ton of steel
B. One ton of steel
C. Two tons of steel
D. Two and one-half tons of steel
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
Dynamic gains from trade could result from ?
A. The stimulus of additional investment spending as market open
B. Economies of large scale production as markets open
C. Additional competition made possible by the opening of markets
D. All of the above
The earliest statement of the principle of comparative advantage is associated with ?
A. Adam Smith
B. David Ricardo
C. Eli Heckscher
D. Berti IOhlin
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