Technology-based comparative advantage
A. is totally contradictory to the Heckscher-Ohlin (H-O) theory of comparative advantage.
B. usually results in immiserizing growth.
C. emphasizes that poorer and less industrialized nations cannot compete in world markets with richer and more industrialized nations.
D. can help explain how the United States went from being a net exporter of steel to become a net importer of steel.
Answer: D
You might also like to view...
When real GDP exceeds potential GDP, then the economy has
A) an inflationary gap. B) a below-full-employment equilibrium. C) a recessionary gap. D) None of the above answers are correct.
A supply curve describes
a. the relationship between price and quantity demanded b. the relationship between price and quantity supplied c. the relationship between a group of buyers and sellers d. none of the above
The most important characteristic of the equilibrium price is that it: a. guarantees that producers earn profit. b. clears the market
c. increases the quantity demanded. d. decreases the quantity demanded.
The utility associated with the payoffs in a risky situation increases ____________ than the dollar value of these payoffs
Fill in the blank(s) with the appropriate word(s).