Author Question: Which of the following statements is true about the trends in the flow of international trade ... (Read 42 times)

Metfan725 · **on:** Jun 30, 2018

Which of the following statements is true about the trends in the flow of international trade witnessed in India since its independence?
a. Trade liberalization was unable to boost India's economy in the first few decades of independence.
b. Indian software exports now reflect an annual growth rate of an impressive 55 percent.
c. The opening of trade and modern telecommunications allowed India's production set to expand and gain comparative advantage in software.
d. Trade has enabled Indian engineers to command higher wages than most other nations specializing in software.

Question 2

If marginal physical product of labor is declining, then average physical product must also be declining.
a. True
b. False
Indicate whether the statement is true or false