Linder's hypothesis provides an explanation for
A) increasing returns to scale.
B) imperfect competition.
C) intraindustry trade.
D) All of the above.
C
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The perfect substitution of two inputs implies that
A) two inputs can be substituted at a ratio of 1 to 1. B) one input can be substituted for another up to some point. C) two inputs can be substituted at some constant ratio. D) one input can be substituted for another.
The productivity of workers can depend upon which of the following?
A. Human capital B. Natural resources C. Technology D. All of these are determinants of productivity.
A common argument in favor of restricting international trade in good x is based on the premise that
a. international trade reduces total surplus in countries that export good x. b. international trade reduces total surplus in countries that import good x. c. international trade is desirable only when countries with different domestic supplies of natural resources play by different rules when trading with one another. d. trade restrictions can be useful when one country bargains with its trading partners.
An increase in the market supply of clerks leads to an increase in the market wage rate for clerks.
Answer the following statement true (T) or false (F)