Over time , the economics interdependence of nations has
Grown
Diminished
Remained unchanged
Cannot say
The gravity model of International trade predicts that trade between two nations is larger
The larger the two nations
The closer the nations
The more open are the two nations
All of the above
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
A rough measure of the degree of economic interdependence of a nation is given by.
The size of the nations population
The percentage of to population to its GDP
The percentage of a nation's import and exports to its GDP
David Ricardo's theory in favour of free trade uses the idea of
Multilateral advantage
Mutual advantage
Absolute advantage
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
International Trade is most important to the standard of living of :
The united states
Switzerland
Germany
England
Economic theory :
Seeks to explain economic events
Seeks to predict economic events
Abstracts from the many details that surrounds an economic event
Economic Interdependence is grates for :
A small nations
Large nations
Developed nations
Developing nations
What proportion of International trade is based on absolute advantage ?
All
Most
Some
None
