_________ provides an important liuk between developed and developing economics.
Balance of payments
Trade
Both a and b
None of these
Trade permits countries to ________ in products and commodities which they can produce relatively efficiently.
Specialise
Complete equilisation of factor prices
Partial equalisation of factor prices
None of the above
Theory of absolute advantage was developed by
David Ricardo
J.S. Mill
Adam Smith
J.M. Keynes
GDP evaluated at prevailing current prices is known as _______________
GDP deflator
Real GDP
Nominal GDP