Test Preparation on UGC NET Economics Practice Set-2
1.
One or more of the following economists seemedto have argued that international trade wasdetrimental to the industrialization of thedeveloping countries:1. Gunnar Myrdal 2. Raul Prebisch3. Heberler 4. David RicardoSelect the correct answer using the codes givenbelow:Codes:
2.
Assertion (A): The Ricardian theory ofcomparative costs is based on the labour theoryof value.Reason (R): Labour theory of value holds goodin domestic trade, but breaks down when appliedto international trade.
3.
Assertion (A): Devaluation changes ipso factoexchange rates.Reason (R): Revaluation is the opposite ofdevaluation.