According to the Ricardian Model,the Source of Comparative Advantage Is

question 39

Multiple Choice

According to the Ricardian model,the source of comparative advantage is:

• A)differences in labor productivity in the different countries.
• B)differences in foreign trade policies followed by the governments of the various countries.
• C)differences in resource endowments of the economies.
• D)differences in the fields of research and development in the countries.
• E)differences in the taste and preferences of the consumers in the different countries.

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Definitions:

Welfare Eligibility

Criteria that determine an individual's or family's qualification to receive assistance or benefits from governmental social welfare programs.

MSC Curve

The Marginal Social Cost curve, illustrating the total cost to society of producing one additional unit of a good.

Emissions

The release of pollutants or greenhouse gases into the atmosphere, often associated with industrial processes or vehicle exhaust.

Technologies

The application of scientific knowledge for practical purposes, especially in industry.