If India has an absolute advantage in rug production compared to England, then
a. India should export rugs to England
b. England should export rugs to India
c. England cannot benefit from free trade with India
d. England uses fewer resources to produce rugs than India
e. India uses fewer resources to produce rugs than England
E
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The new $20 bills are being introduced by the U.S. Treasury primarily to diminish
A. inflation. B. poverty. C. counterfeiting. D. bank failures.
A decrease in the money supply will tend to reduce investment.
Answer the following statement true (T) or false (F)
The progressive income tax is a tax based on the
A. ability-to-pay principle. B. efficiency tax principle. C. benefits-received principle. D. tax equity principle.
Which of the following factors had helped maintain the large U.S. trade deficits over the years?
A. A decline in investment B. Capital and financial account surpluses C. A decrease in economic growth D. An increase in U.S. net exports