Economics · International Trade
Which of the following statements is true regarding international trade?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Factors of production are perfectly mobile between different nations.
- 2The general equilibrium theory of value is applicable to international trade.✓
- 3Immobility of factors of production is not a characteristic of international trade.
- 4The comparative cost theory is applicable only to domestic trade.
Correct answer
The general equilibrium theory of value is applicable to international trade.
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