Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which economist formulated a theory of absolute advantage, stating If a foreign country can supply us with a commodity cheaper than we ourselves can make

Which economist formulated a theory of absolute advantage, stating "If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry employed in a way in which we have some advantage." Milton Friedman David Ricardo Adam Smith Karl Marx

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics Principles and Policy

Authors: William J. Baumol, Alan S. Blinder

12th edition

978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653

More Books

Students also viewed these Economics questions