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Alek Hsiang Alek Hsiang
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5 years ago

Question 1.

According to ________, trade between two countries allows each of the trading countries to allocate its resources most efficiently.



▸ the Heckscher-Ohlin theorem

▸ the theory of absolute advantage

▸ the General Agreement on Tariffs and Trade

▸ the theory of comparative advantage

Question 2.

Assume that Down Slope specializes in producing snow boards and Seven Seas specializes in producing scuba tanks. After trade, Down Slope exports 2,000 snow boards and imports 400 scuba tanks. The terms of trade



▸ are 1/5:1 snow boards to scuba tanks.

▸ are 5:1 snow boards to scuba tanks.

▸ are 1:5 snow boards to scuba tanks.

▸ cannot be determined from this information.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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DoggggDogggg
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5 years ago
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Alek Hsiang Author
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5 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
gma_of_7
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Yesterday
This helped my grade so much Perfect
sweetalia
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2 hours ago
Correct Slight Smile TY
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