Refer to the figure above. If Y is labor intensive then according to the HO theory, this country should be ________ abundant
A) capital
B) labor
C) both capital and labor
D) Can't tell without more information
A
You might also like to view...
A firm's marginal revenue is defined as:
a. the ratio of total revenue to total quantity produced. b. the additional output produced by lowering price. c. the additional revenue received due to technical innovation. d. the additional revenue received when selling one more unit of output.
A negative income tax system is designed to
a. provide in-kind benefits to the poor. b. provide a minimum income to the poor. c. reduce taxes on the rich when their incomes surpass the maximum income tax bracket. d. subsidize food consumption in poor families.
According to most economists, the development of markets is:
A. both a necessary and a sufficient condition for development. B. a sufficient condition for development but not a necessary condition. C. a necessary condition for development but not a sufficient condition. D. neither a necessary nor a sufficient condition for development.
The hostage taking example was developed by
A) John Nash. B) Kydland and Prescott. C) John Harsanyi. D) Reinhard Selten.