The Theory of Comparative Advantage,advanced by __________,Is the Intellectual Basis

question 27

Multiple Choice

The theory of comparative advantage,advanced by __________,is the intellectual basis of the modern argument for unrestricted free trade.

• A) Michael Porter
• B) David Ricardo
• C) Bertil Ohlin
• D) Adam Smith
• E) Wassily Leontief

---

Definitions:

Cash Payment

A transaction in which money is paid immediately at the time of purchase, not on credit.

Journal Entry

A record in accounting that documents a business transaction, including the accounts and amounts affected.

Prepaid Insurance

The cost of insurance premiums that have been paid in advance for future coverage, recorded as an asset on the balance sheet.

Accounts Receivable

Receivables from customers for goods or services that have been used or delivered, but remain unpaid.