The commodity in which the nation has the smallest absolute disadvantage the commodity of its:
Absolute disadvantage
Absolute advantage
Comparative disadvantage
Comparative advantage
International trade theory refers to
The microeconomic aspects of international trade
The macroeconomic aspects of International trade
Open economy macroeconomic or International finance
All of the above
David Ricardo's theory in favour of free trade uses the idea of
Multilateral advantage
Mutual advantage
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
The term tariff as used in International trade , refers to
A government payment to encourage exports
A tax on imports
The prices of goods when they leave the producing country
A limit on the quantity of a good that can be imported in to a country
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
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
Economic Interdependence is grates for :
A small nations
Large nations
Developed nations
Developing nations
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
Over time , the economics interdependence of nations has
Grown
Diminished
Remained unchanged
Cannot say