A significant portion of actual world trade patterns results from
A. different factor endowments between countries.
B. the industrial policies of governments.
C. the different tastes and preferences of people in different countries.
D. different sizes of the countries.
Answer: A
You might also like to view...
Recall the Application. The decrease in the price of wool would be reflected by a movement ________ on the market supply curve for wool
A) down and to the left B) up and to the right C) up and to the left D) down and to the right
The figure illustrates aggregate demand and aggregate supply in Sparta. Which of the following events will decrease Sparta's real GDP in the short run?
A) a decrease in taxes B) a fall in resource prices C) a decrease in government expenditure D) an increase in investment
If nations trade on the basis of comparative advantage
A. a nation can gain only at the expense of trading partners. B. exporting nations gain and importing nations lose. C. importing nations gain and exporting nations lose. D. all trading partners mutually gain.
The slope of a line that is vertical is:
A. zero. B. infinite. C. 1. D. dependent on where it intersects the horizontal axis.