
INTERNATIONAL TRADE
Quiz
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Other
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University
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Hard
Dr. K
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is the father of the theory of absolute advantage?
Adam Smith
David Ricardo
Heckscher
Ohlin
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Comparative Advantage theory is based on the concept of:
Equal productivity
Minimum trade restrictions
Opportunity cost
Product life cycle
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The theory of comparative advantage was given by:
Karl Marx
Adam Smith
David Ricardo
John Maynard Keynes
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Heckscher-Ohlin theory explains trade based on:
Economies of scale
Technological innovation
Consumer preferences
Factor endowments (labour and capital)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Mercantilism, a country should:
Import more than it exports
Specialize in one product
Maintain a trade surplus
Trade only with colonies
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Product Life Cycle Theory was developed by:
. Michael Porter
Adam Smith
Raymond Vernon
David Ricardo
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an assumption of Ricardian theory of comparative advantage?
Capital mobility between countries
Technological differences exist
Constant returns to scale
Labour is the only factor of production
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