The principle of comparative advantage was first introduced by

Related MCQs

• The Ricardian theory of comparative advantage states that a country has a comparative advantage in widgets if
• Given below is a table whowing the maximum amount of wheat and cloth that the U K and U S could produce if they fully utilize all the factors of production with the best technology available indicate the comparative advantage of U K and U S. U K U S Bushels of wheat 50 120 Meters of Cloth 150 80
• Who reoriented comparative advantage theory?
• Haberler reconstituted comparative advantage theory on the basis of ____
• In his empirical test of comparative advantage, Wassily Leontief found that
• By adjusting the model of comparative advantage to include transportation costs along with production costs, we would expect
• Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land. Note that wages are the returns to labor and rents are the returns to land. According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B.
• In order to know whether a country has a comparative advantage in the production of one particular product we need information on at least ____unit labor requirements
• The Heckscher-Ohlin model differs from the Ricardian model of Comparative Advantage in that the former
• According to the Heckscher-Ohlin model, the source of comparative advantage is a country’s: