The basis for international trade is
a. established trade patterns
b. the size of gold holdings of two countries
c. shipping and transportation costs
d. absolute advantage
e. comparative advantage
E
Economics
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If a firm triples inputs and produces three times the output, then there are
A) constant returns to scale. B) diminishing marginal product. C) decreasing returns to scale. D) increasing returns to scale.
Economics
The inflation rate in January of 2009 as measured by the CPI was zero. If inflation were to remain at zero for a long period, what would be the effect on velocity?
a. It will decrease. b. It will increase. c. It will remain constant. d. Velocity is unrelated to interest rates.
Economics