ECO401 - Economics
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- Why countries have comparative advantage according to Ricardo?
- A:"Slope of the consumption function is less than 1".What is meant by this statement?
- B.What are the major macroeconomic variables involved in the determination of national income?
- What are the conditions in which foreign exchange market exists? Also give some examples of foreign exchange markets.
- What thing determines comparative advantage among countries according to Hechshcer-Ohlin? What is the criticism against their argument?