A problem with Leontief's methodology is that
A) he had no information on U.S. and foreign factor endowments.
B) he did not use information on foreign factor intensities.
C) he ignored the roles of other factors of production such as natural resources.
D) All of the above are problems.
D
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Which of the following lists gives world exports in the order of their value, from highest to lowest?
a. Aircraft, motor vehicle parts, crude petroleum b. Aircraft, crude petroleum, motor vehicle parts c. Crude petroleum, office and telecom equipments, automotive parts d. Motor vehicle parts, aircraft, crude petroleum e. Motor vehicle parts, crude petroleum, aircraft
If the equilibrium exchange rate changes so that it takes more dollars to buy a British pound, then:
A. the dollar has appreciated in value. B. Americans will import more British goods. C. the British will buy fewer U.S. goods. D. the dollar has depreciated in value.
Refer to the consumption schedule above. If disposable income is $42,000, then saving is:
A. $0
B. $2,000
C. $4,000
D. $6,000