Question 1
The purpose of the Corn Laws was to
◦ encourage imports and discourage exports, and thus keep the price of food low.
◦ encourage both exports and imports in order to integrate the British economy with the rest of Europe.
◦ discourage both imports and exports in order to promote economic self-sufficiency in Britain.
◦ discourage imports and encourage exports, and thus keep the price of food high.
Question 2
The theory of comparative advantage is credited to
◦ Adam Smith.
◦ David Ricardo.
◦ John Maynard Keynes.
◦ Milton Friedman.