Author Question: The insight that patterns of trade are primarily determined by international differences in labor ... (Read 154 times)

nenivikky · **on:** Jun 30, 2018

The insight that patterns of trade are primarily determined by international differences in labor productivity was first proposed by

A) Adam Smith.
B) David Hume.
C) David Ricardo.
D) Eli Heckscher.
E) Lerner and Samuelson.

Question 2

If a small country were to levy a tariff on its imports then this would

A) decrease the country's economic welfare.
B) have no effect on that country's economic welfare.
C) increase the country's economic welfare.
D) change the terms of trade.
E) raise prices on its exports in other countries.