Chapter 8 International Trade Flashcards
1
Q
ricardian model of international trade
A
assumes that ppfs are straight lines
2
Q
3 sources of comparative advantage
A
international differences in climate
technology
factor endowments
3
Q
tarriff
A
tax on imports
4
Q
import quotas
A
legal limit on quantity of imports
5
Q
arguments for tariffs and quotas
A
national security, job creation, infant industry argument
