______________ states that the cost or price of a commodity is determined by,or can be inferred exclusively from,its labor content.
A) Mercantilism
B) The law of comparative advantage
C) The labor theory of value
D) The opportunity cost theory
Correct Answer:
Verified
Q1: A laissez-faire policy is one in which:
A)The
Q3: Adam Smith advocated a policy in which:
A)The
Q4: The Wealth of Nations was published in
Q5: The school of thought during the seventeenth
Q6: The mercantilists would have objected to:
A)the use
Q7: Which of these economists considered absolute advantage
Q8: The ability of one nation to produce
Q9: According to the mercantilists:
A)Only one nation can
Q10: When the amount of a commodity that
Q11: If wage in country A is
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