The Ricardian model demonstrates that A. trade between two countries benefits both regardless of which good each exports. B. trade between two countries may benefit one but harm the other. C. trade between two countries only benefits the country with a larger labor force. D. trade between two countries benefits both if each exports the product in which it has a comparative advantage.

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26-03-2020
Business

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The Ricardian model demonstrates that A. trade between two countries benefits both regardless of which good each exports. B. trade between two countries may benefit one but harm the other. C. trade between two countries only benefits the country with a larger labor force. D. trade between two countries benefits both if each exports the product in which it has a comparative advantage.

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fabulous4tune fabulous4tune · Answer 1 · 2020-03-30T02:57:28+02:00

Answer:

D. trade between two countries benefits both if each exports the product in which it has a comparative advantage.

Explanation:

The Ricardian model was named after David Ricardo and it helps to explain how trade happens between two countries.

The Ricardian model states that trade can be mutually beneficial as countries engage in trade, each must have a significant advantage over the other as it pertains to the products each country is offering.

BenitoMarin BenitoMarin · Answer 2 · 2020-03-30T06:57:02+02:00

Answer:

The correct answer is letter "D": trade between two countries benefits both if each exports the product in which it has a comparative advantage.

Explanation:

English economist David Ricardo (1772-1823) developed what is known today as the Ricardian Model (named after him) by which he argued about the need for each country to specialize in the production of those goods or services they are most efficient at. With this, Ricardo was emphasizing the role of productivity in the development of national economies. The concept was later spread as the "comparative advantage".