Answer the following statements true (T) or false (F)
1.The specific-factors theory analyzes the income distribution effects of trade in the short run when resources are immobile among industries.
2.Owners of resources specific to export industries tend to lose from international trade, while owners of factors specific to import-competing industries tend to gain.
3.The factor-price equalization theory is a short-run version of the specific-factors theory.
4.With economies of scale, specialization in a few products allows a manufacturer to benefit from longer production runs, which lead to decreasing average cost.
5.With decreasing costs, a country has an incentive to partially specialize in the product of its comparative advantage.
1.True
2.False
3.False
4.True
5.False
You might also like to view...
Personal influence in marketing communications carries great weight when the product being marketed ________
A) is a convenience item B) is considered to be safe and risk-free C) suggests something about the user's status or taste D) is purchased on a frequent basis E) is used without being recommended by others
According to Dees and colleagues, where others see problems, entrepreneurs see ______.
A. doubt B. a quick fix C. predicaments D. opportunities
Most economists assume that consumers are economic buyers who logically evaluate choices to get the greatest satisfaction from spending their time and money.
Answer the following statement true (T) or false (F)
In the context of statement of cash flows, cash flows from operating activities show the amount of cash that flowed into the company from:
A. dividends. B. public grants. C. executive compensations. D. taxes on capital gains.