J.S.Mill brought in -------factor to explain termsof trade
A) cost
B) demand
C) supply
D) quality
Correct Answer:
Verified
Q7: is equally important as price of exports
A)Income
Q8: A decline in price would increase exports
Q9: -------introduced the concept of Gross barter terms
Q10: Single factoral terms of trade take in
Q11: Two countries can gain from foreign trade
Q13: Reciprocal demand is
A)Mutual demand of two countries
Q14: The developing Countries it is argued usually
A)Enjoy
Q15: Comparative advantage occurs when ……..than other country
Q16: A tariff------
A)Increases the volume of trade
B)Reduces the
Q17: Terms of trade of less developed countries
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