How is the degree of openness of an economy assessed?

What is one of the main consequences of specialization according to David Ricardo? Choose the statement you find most accurate.

When was the WTO created?

Which concept disproved the idea that countries specialize based on their labor or capital endowment?

The share of exports in global GDP has ____________ since 1970.

You bought a festival pass giving you access to all concerts for three days for 100 euros. However, some special concerts are not included, and you have to buy additional tickets. The first extra concert costs 20 euros, the second 15 euros, and the third 10 euros. In economic terms, the utility you derive from these purchases is:

At the start of the Covid-19 pandemic, the price of disposable masks rose from 0.05 euros to 0.95 euros. If this increase is attributed to a surge in demand and a shortage of manufacturing materials, what type(s) of shock does it represent?

I placed 10,000 euros in a savings account earning 3% interest. Meanwhile, prices rose by 5%. Did I gain purchasing power?

The elephant curve shows that globalization has led to:

Which of the following items are not included in the calculation of GDP?