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Q. Rich countries have deficit in their balance of payments:

Q. International trade is based on the idea that:

Q. If Debit balance in the balance of payment accounts are greater than the Credit balance it leads to

Q. Exchange rates are flexible and fiscal policy is held constant. An expansionary monetary policywill be

Q. According to the Heckscher-Ohlin model, the source of comparative advantage is a country's

Q. Adam Smith identified the basic reason for trade between two nations as

Q. If the exchange rate is below the equilibrium level then in a floating exchange rate system:

Q. Which of the following is NOT an assumption in the Ricardian model?

Q. Which of the following is classified as a credit in the U.S. balance of payments?

Q. Governments around the world tend to auction quota licenses