The gains from international trade are closely related to
A) the labor theory of value.
B) how much the autarky price differs from the international price (i.e. the terms of trade).
C) the fact that one country must lose from trade.
D) All of the above.
B
Economics
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Intra-industry trade in differentiated products is negligible between countries that are similar in their general production capabilities.
Answer the following statement true (T) or false (F)
Economics
Which statement is true?
A. An effective price ceiling is above equilibrium price and causes surpluses. B. An effective price ceiling is above equilibrium price and causes shortages. C. An effective price ceiling is below equilibrium price and causes surpluses. D. An effective price ceiling is below equilibrium price and causes shortages.
Economics