The factor price ratio(PC/PL)A < (PC/PL)B of countries A & B implies

Related MCQs

• The difference in price ratios of two commodities in the two trading countries is
• An increase in the index of income terms of trade implies that
• According to the theory of comparative advantage, countries gain from trade, because
• According to Ricardo, trade is possible between two countries when
• The fundamental reason why different countries involve in transactions with one another is the
• The difference in the domestic cost ratios of producing two commodities in two countries is known as
• The term ‘terms of trade’ between two countries refers to
• The actual exchange ratio between two countries will depend upon the
• A quota which established thorough mutual agreements or negotiation between countries is
• The tariff rates which are based on trade agreements or treaties with other countries is known as