Trade between two countries can be useful if cost ratios of goods are:

Related MCQs

• _______________ occurs when trade shifts to countries in the group at the expense of trade with countries not in the group, even though the nonmember country might be more efficient in the absence of trade barriers.
• In _______________, countries focus on eliminating internal tariffs among member countries, have a common external trading policy among nonmembers, allow free mobility of productions factors within member countries, and adopt common economic policies.
• In which of the following types of regional economic integration are internal tariffs eliminated with member countries levying a common external tariff on goods being
• A _______________ focuses on eliminating internal tariffs with member countries levying a common external tariff on goods being imported from nonmembers. Additionally, this type of regional economic integration allows free mobility of production factors such as labor and capital.
• International trade and domestic trade differ because of:
• Which of the following was developed with the rationale that the U.S.-Canadian trade was the largest bilateral trade in the world and that the United States is Mexico’s and Canada’s largest trading partner?
• Amalgamation and rapid unification between countries can be identified as
• Capital formation in underdeveloped countries is a major bottleneck. The reason can be
• Despite having large reserves of coal, why does India import millions of tonnes of coal? 1. It is the policy of India to save its own coal reserves for the future and import it from other countries for the present use. 2. Most of the power plants in India are coal based, and they are not able to get sufficient supplies of coal from within the country. 3. Steel companies need a large quantity of coking coal, which has to be imported. Which of the statements given above is/are correct?
• Which of the following is true: A. Development of sufficient and quality infrastructure helps in economic development by facilitating production and investment in any economy. B. shortage of these facilities in underdeveloped countries is the main cause of less economic development