Question

Arrange the following authors and their publications in chronological order starting from the oldest to latest: 

(A) P A Samuelson, "International Trade and Equalization of Factor Prices" 
(B) S B Linder, "An Essay on Trade and Transformation" 
(C) Eli Heckscher, "The effect of Foreign Trade on the Distribution of Income" 
(D) B Balassa, "Trade Creation and Trade Diversion in European Common Market" 
Choose the correct answer from the options given below: 
 

• A. (A), (D), (C), (B)
• B. (D), (A), (C), (B)
• C. (B), (A), (C), (D)
• D. (C), (A), (D), (B)

Hint:

Chronologically arranging academic works helps understand the development of economic theories over time.

Answer 1

The Correct Option is A

 

Step 1: Overview of the authors and their publications. 
We need to arrange the publications in chronological order based on their publication dates.

Step 2: Chronological Order of Publications: 
- (A) P A Samuelson's work, "International Trade and Equalization of Factor Prices" was published in 1948. 

- (D) B Balassa's work, "Trade Creation and Trade Diversion in European Common Market" was published in 1961. 

- (C) Eli Heckscher's work, "The effect of Foreign Trade on the Distribution of Income" was published in 1919. 

- (B) S B Linder's work, "An Essay on Trade and Transformation" was published in 1961.

Step 3: Correct Chronological Order. 
The correct order, starting from the oldest, is: - First, Eli Heckscher (1919) - Then, P A Samuelson (1948) - Followed by B Balassa and S B Linder (1961)

Step 4: Conclusion. 
The correct order is (A), (D), (C), (B), so the correct answer is (1).