In the Ricardian model, if a country's trade is restricted, this will cause all EXCEPT which?
A) limited specialization and the division of labor
B) reduced volume of trade and reduced gains from trade
C) nations to produce inside their production possibilities curves
D) a country to produce some of the product of its comparative disadvantage
E) raised costs as more diverse product is produced internally
C
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The federal government debt as a percentage of GDP fell
A) from 1980-1992. B) from 2002-2007. C) during the Great Depression. D) during World War I and World War II. E) from 1998-2001.
An increase in the expected inflation rate will ________ the ________ for gold, ________ its price, everything else held constant
A) increase; demand; increasing B) decrease; demand; decreasing C) increase; supply; increasing D) decrease; supply; increasing