Adam Smith contended that gold, silver, and other precious metals constituted the wealth of a nation.
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The price-specie-flow mechanism illustrated why nations could not maintain trade surpluses or trade deficits over the long run.
A. 对
B. 错
The marginal rate of transformation equals the absolute slope of a country's production possibilities schedule.
A. 对
B. 错
Assume that Germany has higher labor productivity and higher wage levels than France. Germany can produce a commodity more cheaply than France if its productivity differential more than offsets its wage differential.
A. 对
B. 错
Ricardo's theory of comparative advantage does not take into account demand conditions when determining relative commodity prices.
A. 对
B. 错