Fundamentals of Economic Analysis-Comparative Advantage & Trade [AP (Advanced Placement) Microeconomics]: Questions 1 - 4 of 32

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Question 1

Comparative Advantage & Trade

Appeared in Year: 2014 (NET)

Question

MCQ▾

A difference in relative commodity prices between two nations can be based upon a difference in (June)

Choices

Choice (5)Response

a.

Factor endowment

b.

Tastes

c.

Technology

d.

All a., b. and c. are correct

e.

Question does not provide sufficient data or is vague

Question 2

Comparative Advantage & Trade

Appeared in Year: 2017 (NET)

Question

MCQ▾

Consider the following concepts:

I. Leontief Paradox

II. Linder Hypothesis

Which among the following can be treated as exception to the conclusions of the Heckscher Ohlin theory? Answer from the questions below:

Choices

Choice (5)Response

a.

Only II is an exception

b.

I and II are exception

c.

Only I is an exception

d.

Neither I nor II are exception

e.

Question does not provide sufficient data or is vague

Question 3

Comparative Advantage & Trade

Appeared in Year: 2017 (NET)

Question

MCQ▾

Which of the following pairs is not correctly matched?

Choices

Choice (5)Response

a.

Walras: Dumping conditions

b.

Taussig: Barter terms of trade

c.

Perbisch: Deteriorating terms of trade

d.

Marshal: Offer curves

e.

Question does not provide sufficient data or is vague

Question 4

Comparative Advantage & Trade

Appeared in Year: 2014 (NET)

Question

MCQ▾

Which type of trade is not explained by the Heckscher-Ohlin model? (June)

Choices

Choice (5)Response

a.

Trade based on imitation gaps and product cycles

b.

Intra industry trade

c.

Trade based on economies of scale

d.

All a., b. and c. are correct

e.

None of the above

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