According to the Heckscher-Ohlin model, the source of comparative advantage is a country's
A) factor endowments.
B) technology.
C) advertising.
D) human capital.
E) political system.
A
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Suppose the lack of agricultural land is a key reason for the slow economic growth of Lithasia. This argument claims that:
A) geography is the fundamental cause of slow economic growth in Lithasia. B) stock of physical capital is a fundamental cause of slow economic growth in Lithasia. C) stock of human capital is a proximate cause for slow economic growth in Lithasia. D) geography is a proximate cause of slow economic growth in Lithasia.
Which of the following will most likely have the greatest effect on an individual’s consumption function?
A. Winning a small amount in the lottery B. A one-time tuition grant C. A week of high overtime pay D. An inheritance paying a modest annual dividend
Consider an unregulated monopoly in Figure 8.13. At the firm's profit-maximizing output level, its total revenue is:
A. $1,000,000. B. $200,000. C. $800,000. D. $600,000.
Which of the following will shift the supply curve for laptop computers to the left?
A. a reduction of the number of firms that make laptop computers B. development of a cheaper microchip used in laptop computer production C. a subsidy to the laptop computer industry D. expectations of a future decline in laptop computer prices