A Basic Tenet of Ricardo's Theory Is That

question 29

Multiple Choice

A basic tenet of Ricardo's theory is that:

• A)consumers in those countries with an absolute advantage in the production of all goods might derive no benefits from international trade.
• B)consumers in all nations can consume more if there are no restrictions on trade.
• C)restrictions on trade help consumers in countries that lack an absolute advantage in the production of a particular good.
• D)trade is a zero-sum game.

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Definitions:

Physical Substance

A characteristic of tangible assets, meaning they have a physical form and can be seen, touched, and measured.

Management Consulting

An area of public accounting ranging from development of accounting and computer systems to support services for marketing projects and merger and acquisition activities.

Financial Statements

Periodic reports published by a company for the purpose of providing information about its financial status and performance to external parties.

Fairness

The quality of making judgments that are free from discrimination, dishonesty, or injustice.