Comparative Advantage quiz
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Which advantage did Adam Smith base his 1776 case for trade on?
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More questions about Comparative Advantage
These visible examples show the question style. LearnClash turns the full topic into ranked duels and spaced repetition.
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An hour's work makes 4 pies, or 2 hats. What does one hat cost?
Answer: 2 pies
Why: Flipped around, one pie costs half a hat, because the two opportunity costs are reciprocals of each other.
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What shirt price helps both if a shirt costs 2 cakes here, 4 abroad?
Answer: 3 cakes
Why: Any price strictly between the two costs works, since at 2 or 4 cakes one side gains nothing from the swap.
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Which result says trade lowers the real income of a scarce factor?
Answer: Stolper-Samuelson theorem
Why: In a country rich in capital but short of labour, opening to trade is predicted to lower workers' real wages.
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Why can the less productive country export in Ricardo's model?
Answer: Lower wages
Why: Its wages settle low enough to undercut its rival only in the goods where its productivity gap is smallest.
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Where did James Mill say the benefit of trade comes from?
Answer: From goods received
Why: That turned around the mercantilist view that a nation grows rich by exporting more than it imports and piling up gold.
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Which differences drive trade in the Heckscher-Ohlin model?
Answer: Factor endowments
Why: Technology gaps drive trade in Ricardo's model, but Heckscher-Ohlin assumes every country uses the same technology.
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