Business, 04.11.2021 14:00, marissasabino111

True false question (5 points) 1. Absolute advantage theory can not apply in the case one country having higher productivity in producing all goods.
2. According to comparative advantage theory, the trade ratio to benefit both countries must be higher than the two individual countries’ opportunity cost.
3. Open economy will export goods if the world price of the goods is smaller than the domestic price at equilibrium.
4. The deadweight lost in the case that government imposes import quota is always greater than the deadweight lost in the case that government imposes tariff, leading to the same import quantity.
5. According to H – O theory, the wage of labor in labor abundant country will increase thanks to international trade.

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True false question (5 points) 1. Absolute advantage theory can not apply in the case one country...