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Questions › JNU › JNU SIS 2020 › Q20
0 marksInternational Economics › Theories of international trade › Specialisation and the gains from tradeModerateabout 2 min

JNU SIS 2020 Question 20: Theories of international trade

The table below provides the total production possible in the two countries given their total endowment of labour.

CountryYards of ClothTons of Rice
Bangladesh1000500
India50001500

If the world equilibrium price of Rice is 3 yards of Cloth, then

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Theories of international trade has come up 151 times in 6 exams since 2006.

What this question tests

This question is on Specialisation and the gains from trade, part of Theories of international trade in International Economics.

How specialisation raises consumption possibilities, including complete and incomplete specialisation.

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