Author Question: The classical theory predicts that A) countries will completely specialize in the production of ... (Read 37 times)

Evvie72 · **on:** Jun 30, 2018

The classical theory predicts that

A) countries will completely specialize in the production of export goods.
B) considerable trade will occur between countries with different levels of technology.
C) small countries could obtain all of the gains from trade when trading with large countries.
D) All of the above.

Question 2

For almost 70 years international trade policies have been governed

A) by the World Trade Organization.
B) by the International Monetary Fund.
C) by the World.
D) by an international treaty known as the General Agreement on Tariffs and Trade (GATT).
E) by the North American Free Trade Agreement (NAFTA).