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11 Dec 2019

Discuss about David Ricardo's theory on trade based on comparative Advantage

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Related textbook solutions

Principles of Economics

2nd Edition, 2017

ISBN: 9781947172364

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ISBN: 9781947172388

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Related questions

Discuss why Ricardo's cost comparative theory explains the current trade pattern between the developing and developed countries better than Smith's absolute advantage theory.

yellowferret683

12. Which of the following economists is regarded as having developed the theory of comparative advantage?

b. David Ricardo

c. Joseph Stiglitz

Which of the following statements is true about the theory of comparative advantage?

A. Countries gain from trade only if they have absolute advantage

B. Countries can gain from trade even if they have absolute advantage in all commodities

C. Comparative advantage was proposed by Adam Smith

D. Trade will lead to fall in welfare

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