WorksheetsT.Y.B. Com: Business Economics VI
Total questions: 10
Worksheet time: 3mins
Ricardian theory assumes perfect mobility of Labour
Within the country
Between the countries
Both within and between the countries
Between states
Ricardian comparative cost theory can be extended or applied to
More than two commodities
Only two countries
Only to developed countries
Intra-regional
An offer curve ..........
Differs from an usual demand curve only
Differs from an usual supply curve only
Differs from both usual demand and supply curves
Differs in other countries
Terms of trade are expressed as a ..............
Ratio of foreign exchange receipts and payments
Ratio of price index of exports and imports
Ratio of foreign direct investment and portfolio investment
Ratio of changes indirectly
H. O. Theory can explain
Inter-regional trade
International Trade
Both
Intra
Commodity X is capital intensive if in its production
Capital/Labour (K/L) ratio is greater than Y
Physical units of K and L are greater than Y
X requires better technology than Y
Y requires better technology than X
Comparative cost theory is a static theory because according to it
There is no qualitative and quantitative change in inputs
Labour is homogeneous within the country
There is no transport cost
Labour is heterogeneous
Ricardian theory measures comparative cost in terms of
Money
Labour days
Cost of all the inputs
Input Factors
Ricardian theory assumes that
Labour is homogeneous and of same efficiency in all the countries
Labour is homogeneous within the country
Labour differs in efficiency within the country
Labour is heterogeneous
Which one of the following is an argument for free trade?
Protects domestic industries
Promotes self sufficiency
Helps diversification of industries
Promotes efficient allocation of world resources
