Question 16 5 out of 5 pointsComparative Advantage Theory assumes that the (1) factors of production are immobile, (2) goods aremobile, and (3) technology is stable and ubiquitous.
Question 17 5 out of 5 pointsThe presupposition of Absolute Advantage and Comparative Advantage is that differences in (__________) determine patterns of international trade.
Question 18 5 out of 5 pointsTariffs are the foundation for a common understanding of the rules governing trade.
Question 19 5 out of 5 pointsPorter’s Diamond has four determinants that indicate the level of competitiveness of a national industry. Which of the following are NOT one of the four?