Comparative cost theory was re-stated as opportunity cost by
F.W. Taussing
Adamsmith
David Ricardo
Haberler
Theory of comparative advantage is based on which of the following assumption?
The labour theory of value
Two nations and two commodities
Constant cost of production
All of the above
The classical theory of comparative advantage is based on
Law of diminishing returns
Differences in language
Tariffs
GDP evaluated at prevailing current prices is known as _______________
GDP deflator
Real GDP
Nominal GDP
None of these
The money value of all sinal goods and services produced in the domestic territory of a country during an accounting year is known as
GNP
NNP
GDP
NDP
The economist who based the comparative cost doctrine the relative factor endowments of the several countries involved was
J.S. Mill
Adam Smith
Bertil Ohlin