Examlex
According to the principle of comparative advantage, an open trading system results in resources being channeled from uses of low productivity to those of high productivity.
Summary
A brief statement or account that presents the main points of a text, document, or speech in a condensed form.
Correlation
The simultaneous change in two variables; changes in one variable may or may not cause changes in the other.
Cause-and-effect
Cause-and-effect is a relationship where one event (the cause) makes another event happen (the effect), often used to explain why things happen.
Trends
Repeatable patterns taking place over time.
Q7: Which statement is true about international trade?<br>A)
Q26: The Invacare Corporation, an Ohio-based manufacturer of
Q44: Consider Figure 2.2.With trade, Canada consumes<br>A) 12
Q65: Given an open economy with high capital
Q71: The J-curve effect implies that in the
Q78: Decreasing cost conditions lead to complete specialization
Q94: When pursued over the long run, a
Q109: Other things equal, to temporarily offset a
Q120: Because the Ricardian trade theory recognized only
Q180: Germany has the absolute advantage in producing