J.S.Mill introduced the theory of reciprocal demand to explain
A) Determination of factor endowments
B) Determination of equilibrium terms of trade
C) Determination of availability of resources
D) Determination of equilibrium in balance of payments
Correct Answer:
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Q1: The difference in price ratios of two
Q2: The ratio between the quantities of a
Q4: Mill's theory of reciprocal demand indicates a
A)Country's
Q5: The gains from trade refers to
A)A duty
Q6: The ratio between the price of a
Q7: An increase in the index of income
Q8: The terms of trade refers to the
Q9: The types of terms of trade does
Q10: In the modern trade theory, the gains
Q11: Under the gains from international trade, the
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