David Ricardo,a Millionaire Stockbroker and Economist

question 197

Multiple Choice

David Ricardo,a millionaire stockbroker and economist,

• A)opposed the Corn Laws as a member of the British Parliament.
• B)disputed Adam Smith's theory of specialization and trade in the early 1800s.
• C)developed the principle of absolute advantage.
• D)was an early supporter of trade restrictions.

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Definitions:

Life Expectancy

The average number of years a person is expected to live, based on current mortality rates and health conditions.

Literacy Rates

The percentage of people within a given population who are capable of reading and writing at a specified age.

Nominal GDP

The aggregate monetary worth of every final good and service created inside a country during a particular period, unadjusted for inflation.

Prices

Refers to the amount of money required to purchase goods or services.