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Principles of Micro
Economic History of the Soviet Union
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Geography and Development, Trade
» Practice Questions
1. According to economist David Ricardo, when two countries specialize in their _______________ and trade, both are better off.
firms with the greatest economies of scale
both a. and b.
2. According to economist Adam Smith, the division of labor is limited by ____________________.
the extent of the market
the productivity of the workers
the relative cost of capital
3. One study found that countries which are landlocked tend to have GDP _____________ countries that are close to a waterway.
as high as
the same as
Copyright 2012 - Tyler Cowen and Alex Tabarrok