According to Adam Smith, the trade between countries should happen _____.

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.
• 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?
• Business across several countries with some decentralization of management decision making to subsidiaries is
• By having business in different countries, a firm reduces
• Which of the following are institutional banks that provide financial support and professional advice for developing countries?
• Interest rate swaps are usually possible because international financial markets in different countries are
• 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 imported from nonmembers.
• 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.
• Apart from India, Pakistan and Bangladesh who are the other member countries of SAARC?
• Quantitative restrictions refer to limit set by countries to curb