What is the exception to the law of comparative advantage? How prevalent is it?
Question:
What is the exception to the law of comparative advantage? How prevalent is it?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
There is a possibility of no comparative advantage if one nation has abso...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Micro Economics questions
-
What types of products do the DVCs typically export? How do those exports relate to the law of comparative advantage? How do tariffs by IACs reduce the standard of living of DVCs?
-
Complete each of the following sentences: a. When a nation has no economic interaction with foreigners and produces everything it consumes, the nation is in a state of __________. b. According to the...
-
Indicate some ways in which you or your friends practice the law of comparative advantage.
-
Label each transition in this flowchart Label each transition in this flowchart as a chemical change or a physical change. 8 chemical physical 00
-
Figure shows an electric dipole. What are the (a) Magnitude and (b) Direction (relative to the positive direction of the x axis) of the dipole's electric field at point P, located at distance r >>d?...
-
A 60-cm-high, 40-cm-diameter cylindrical water tank is being transported on a level road. The highest acceleration anticipated is 4 m/s 2 . Determine the allowable initial water height in the tank if...
-
(a) A spherical capacitor consists of two concentric conducting spheres of radii \(R\) and \(2 R\). If the two spheres carry charges of \(+q\) and \(-q\), what is the average energy density inside...
-
The Outland Company manufactures 1,000 units of a part that could be purchased from an outside supplier for $12 each. Outlands cost to manufacture each part are as follows: Direct...
-
What piece of hardware connects a peripheral device like a keyboard or mouse to the system bus? 1 point a device driver a device controller a semaphore a network port
-
At around 8 p.m. on a New Years Eve, a mother and her two young children were walking home in San Francisco. At a busy intersection, the family waited for the walk signal and then started across the...
-
In what way was Ricardo's law of comparative advantage superior to Smith's theory of absolute advantage? How do gains from trade arise with comparative advantage? How can a nation that is less...
-
Why is Ricardo's explanation of the law of comparative advantage unacceptable? What acceptable theory can be used to explain the law?
-
Determine the moment of inertia for the overhung crank about the x axis. The material is steel having density . Units Used: Mg = 1000 kg Given: = 7.85Mg/m3 a = 20 mm b = 20 mm c = 50 mm d = 90 mm e...
-
A buyer can acquire valid title to stolen goods if the buyer does not know that the goods are stolen. (True/False)
-
On June 1, Mel, the owner of Fresco Organico, asks Ray to deliver Frescos menu items to customers on State Universitys campus until June 15, which is the final day of the spring semester. Ray says...
-
Price-Cut Markets ordered strawberries, blueberries, and raspberries from Driscoll County Harvest Distribution Cooperative. Driscoll employees designated the berries for Price-Cut, loaded them onto a...
-
If a seller is a merchant, the risk of loss passes when a buyer takes physical possession of the goods. (True/False)
-
In a defense of comparative negligence, an injured partys failure to exercise reasonable care against a known defect will be considered in determining liability. (True/False)
-
Explain intensive, selective, and exclusive distribution intensity. Under what circumstances would it be best to use each of these strategies?
-
Use the formula to determine the value of the indicated variable for the values given. Use a calculator when one is needed. When necessary, use the key on your calculator and round answers to the...
-
In what way is a nations offer curve similar to: (a) A demand curve? (b) A supply curve? (c) In what way is the offer curve different from the usual demand and supply curves?
-
Sketch a figure similar to Figure 4.5. (a) Extend the PF' price line, and the offer curve of Nation 1 until they cross. (In extending it, let the offer curve of Nation 1 bend backward.) (b) Using the...
-
To show how nations can share unequally in the benefits from trade: (a) Sketch a figure showing the offer curve of a nation having a much greater curvature than the offer curve of its trade partner....
-
Topic of this Week's discussion is... Entry Strategies and Strategic Alliances Global Marketing and R&D The opening case explores the development of blockchain technology and how it has the...
-
Some information is provided below about five different investment funds, each investing in a different portfolio of assets. The funds are based in the United States (US) and some additional...
-
Given the following information, calculate the current value of Builtrite's common stock: current dividend is $3.00, projected super normal growth for three years at 13%, growth rate after year 3...
Study smarter with the SolutionInn App