Marginal Revolution University Learn, Teach, and Share
Principles of Micro
Principles of Macro
See All 16 Courses
Mini-Courses in Your Inbox
You are here
» Geography and Development 1 »
Geography and Development, Trade
» Practice Questions
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