The cross-trade of very similar products exported and imported by trading partners seems to contradict which of the following model(s)?
a. Ricardian
b. Heckscher-Ohlin
c. specific-factors
d. It contradicts all of these models.
Ans: d. It contradicts all of these models.
Economics
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Which of the following is FALSE?
A) A common market is more deeply integrated than an economic union. B) NAFTA is an example of a free trade area. C) The European Union is a deeper form of integration than NAFTA. D) Common markets allow for labor mobility between participating nations.
Economics
When the consumer price index rises, the typical family
a. has to spend more dollars to maintain the same standard of living. b. can spend fewer dollars to maintain the same standard of living. c. finds that its standard of living is not affected. d. can offset the effects of rising prices by saving more.
Economics