Mill's theory of reciprocal demand indicates a
A)Country's demand for one commodity in terms of the quantities of the other country it is prepared to give up in exchange
B)Country's supply of a commodity in terms of the quantities of the other country it is prepared to give up in exchange
C)Country's balance of payments
D)Country's labour cost

Question

Quizplus · Accepted Answer

Mill's theory of reciprocal demand focuses on a country's demand for imports in terms of the amount of exports it is willing to offer in exchange, not on supply, balance of payments, or labor costs.

Mill's Theory of Reciprocal Demand Indicates a