Which of the following products are not produced at all in the united states?
Coffee,tea,cocoa
Steel, copper , aluminium
Petroleum , coal , natural gas
Type writers, computers , airplanes
What proportion of International trade is based on absolute advantage ?
All
Most
Some
None
David Ricardo's theory in favour of free trade uses the idea of
Multilateral advantage
Mutual advantage
Absolute advantage
Comparative advantage
Which of the following is not an assumption generally made in the study of International economics ?
Two nations
Two commodities
Perfect International al mobility of factors
Two factors of products
Economic Interdependence is grates for :
A small nations
Large nations
Developed nations
Developing nations
A policy of developing local industries that can compete with imports is referred to as
Export promotion
Unbalanced growth
Industrial promotion
Import substitution
According to Adam smith , International trade was based on:
Both absolute and comparative advantage
Nether absolute nor comparative advantage
Developing countries , if compared with other country , have :
A lower rate of literacy
A greats degree of equality in the income distribution
A lower infant mortality rate
A smaller percentage of the labour force in urban areas
Economics suggest that trades main advantage is allowing the world to achieve;
More self - sufficiency
Greater equality between countries
Economic growth for all countries
Specialization and the resulting economics of scale
International economics deals with
The flow of goods , services and payments among nations
directed at regulating the flow of goods , services and payments
The effects of polices on the welfare of the nation
All of the above
