Ricardo's Theory of Comparative Advantage Was of Limited Real-World Validity

question 62

Multiple Choice

Ricardo's theory of comparative advantage was of limited real-world validity because it was founded on the:

• A) Labor theory of value
• B) Capital theory of value
• C) Land theory of value
• D) Entrepreneur theory of value

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Definitions:

Creative Problem Solving

An innovative approach to finding solutions for complex problems by using creativity and lateral thinking.

Anonymous

Anonymous refers to actions or statements made without revealing one's identity or name.

Spontaneous

Occurring as a result of a sudden inner impulse without premeditation or external stimulus.

Free-flowing

Characterized by moving or conveyed smoothly and with little to no resistance; applied to liquids, information, conversations, etc.