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The equilibrium prices and quantities established after trade are fully determinate if we know:

A. The location of all countries' indifference curves
B. The shape of each country's production possibilities curve
C. The comparative costs of each trading partner
D. The strength of world supply and demand for each good

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"The equilibrium relativecommodityprice at which trade takes place isdetermined by the conditions of demand and supply for eachcommodityinbothnations. Other things being equal, the nation with the more intense demand for the other nation's exported good will gain less from trade than the nation with the less intense demand." This statement was first proposed by:

Alfred Marshall with offer curve analysis
B. John Stuart Mill with the theory of reciprocal demand
C. Adam Smith with the theory of absolute advantage
David Ricardo with the theory of comparative advantage

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Whichofthefollowingterms-of-trade concepts is calculated by dividing the change in a country's export price index by the change in its import price indexbetween two points in time,multiplied by 100 to express the terms of trade in percentages?

A. Commodity terms of trade
B. Marginal rate oftransformation
C. Marginal rate of substitution
D. Autarky price ratio

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The best explanation of the gains from trade that David Ricardo could provide was to describe only the outer limits within which the quiilibrium terms of trade would fall. This is because Ricardo's theory did not recognize how market prices are influenced by:

A. Demandconditions
B. Supply conditions
C. Business expectattions
D. Profit patterns

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Underfree trade, Swedenenjoysall of the gains from trade with Holland if Sweden:

A. Trades at Holland's rate oftransformation
B. TradesatSweden'srate oftransformation
C. Specializescompletely in the production of its export good
D. Specializes partially intheproduction of its export good

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The equilibrium prices and quantities established after trade are fully determinate if we know:

A. The location of all countries' indifference curves B. The shape of each country's production possibilities curve C. The comparative costs of each trading partner D. The strength of world supply and demand for each good

Whichofthefollowingterms-of-trade concepts is calculated by dividing the change in a country's export price index by the change in its import price indexbetween two points in time,multiplied by 100 to express the terms of trade in percentages?

The best explanation of the gains from trade that David Ricardo could provide was to describe only the outer limits within which the quiilibrium terms of trade would fall. This is because Ricardo's theory did not recognize how market prices are influenced by:

Underfree trade, Swedenenjoysall of the gains from trade with Holland if Sweden:

A. The location of all countries' indifference curves
B. The shape of each country's production possibilities curve
C. The comparative costs of each trading partner
D. The strength of world supply and demand for each good