The Insight That Patterns of Trade Are Primarily Determined by International

question 9

Multiple Choice

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.

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Definitions:

Historical Data

Past records or data points that are used for analysis or forecasting future trends.

Total Return

Total return is the overall return on an investment, including dividends, capital gains, and interest, over a specific period.

Dividend Income

Income received from owning shares of a company, distributed out of the company's profits.

Capital Gain

The profit that results from a disposition of a capital asset, such as stock, bond, or real estate, where the sale price exceeds the purchase price.