International trade is based on the existence of
A) absolute advantage.
B) perfect advantage.
C) productivity advantage.
D) comparative advantage.
D
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China's one child policy
a. Caused the share of young people to rise b. Prematurely aged the Chinese labor force c. Lowered the saving rate d. all of the above e. none of the above
The Equilibrium Principle asserts that in a market equilibrium:
A. unexploited opportunities exist for both individuals and society. B. no unexploited opportunities exist for society. C. unexploited opportunities exist for individuals but not for society. D. no unexploited opportunities exist for individuals.
Suppose Congress enacts investment tax credits to spur more business investment. What impact would this have on the loanable funds market?
a) There would be an increase in supply; the supply curve shifts right. b) There would be a decrease in supply; the supply curve shifts left. c) There would be an increase in demand; the demand curve shifts right. d) There would be a decrease in demand; the demand curve shifts left.
How is accounting profit calculated?
What will be an ideal response?