This topic contains a solution. Click here to go to the answer

Author Question: According to Ricardo, a country will have a comparative advantage in the product in which its A) ... (Read 108 times)

jace

  • Hero Member
  • *****
  • Posts: 541
According to Ricardo, a country will have a comparative advantage in the product in which its
 
  A) labor productivity is relatively low.
  B) labor productivity is relatively high.
  C) labor mobility is relatively low.
  D) labor mobility is relatively high.
  E) labor is outsourced to neighboring countries.

Question 2

Which of the following statements is the MOST accurate?
 
  A) If PPP holds true, then the law of one price holds true for every commodity as long as the reference baskets used to reckon different countries' price levels are the same.
  B) If the law of one price holds true for every commodity, PPP must hold automatically.
  C) If the law of one price holds true for every commodity, PPP must automatically hold as long as the reference baskets used to reckon different countries' price levels are the same.
  D) If the law of one price does not hold true for every commodity, PPP cannot be true as long as the reference baskets used to reckon different countries' price levels are the same.
  E) If PPP holds true, then the law of one price must hold true automatically.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

KKcool

  • Sr. Member
  • ****
  • Posts: 340
Answer to Question 1

B

Answer to Question 2

C




jace

  • Member
  • Posts: 541
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


mcarey591

  • Member
  • Posts: 365
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

For a complete list of videos, visit our video library