The concept of commodity or net barter terms of trade has been used by economists to measure

Related MCQs

• The concept of gross barter terms of trade was introduced by
• According to Jacob Viner, the classical economists measured the gains from trade in terms of
• A single factoral terms of trade shows that a country’s factoral terms of trade improve as productivity
• According to the Heckscher-Ohlin theory of trade, the most important cause of difference in relative commodity prices and trade between nations is a difference in
• The modern economists considered the gains from trade resulted from
• The net terms of trade refers to
• Once import quota is levied on a commodity, the domestic price of the commodity
• The concept of single factoral terms of trade was developed by
• If a country has favourable terms of trade, it will claim
• Prof. Ronald Findlay modified Ricardo’s measure of gains from trade using