G. MacDougal compared export ratios and labor produc... - Solved MCQs & Answer

3796EconomicsMedium

G. MacDougal compared export ratios and labor productivity ratios for the United States and the United Kingdom in order to test the:

AHeckscher Ohl in theory of comparative advantage

BLinder theory of overlapping demand all of the above

CNone of these

DRicardian theory of comparative

Correct answer

D. Ricardian theory of comparative

Explanation

The correct answer is Ricardian theory of comparative.

The institutional framework developed in 1947 to promote trade liberalization is known sa?

To adjust GDP from market prices to factor cost?

If the price is less than the average costs but higher than the average variable costs?

Suppose your income rises from Rs19,000 to Rs31,000 while the CPI rises from 122 to 169 Your standard of living has likely?

The divorce of owner ship and control causes a problem usually referred to by economists as?

Why is the private ownership of property deemed beneficial?