The Leontief paradox can be summarized as the finding that U.S. exports tend to come from capital-intensive industries, while U.S. imports are produced using relatively labor-intensive techniques
Indicate whether the statement is true or false
FALSE
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What explains the sharply divergent long-run growth patterns?
What will be an ideal response?
The joining of firms that are producing or selling a similar product is
A) a conglomerate merger. B) a horizontal merger. C) a vertical merger. D) always an illegal merger.
Assume that Economy A and Economy B have the same resources, but that individuals in Economy A have specialized whereas individuals in Economy B have not. Given this information, you can determine that
A) Economy A will have a higher output than Economy B. B) Economy A will have a lower output than Economy B. C) Economy A and Economy B will have identical outputs. D) individuals in Economy A will have lower incomes than individuals in Economy B.
The threshold income level originally used to determine official poverty statistics was based on
A. a per capita income of $1,000 in 1958 prices. B. standards provided by the United Nations based on studies done in poor countries around the world. C. the highest income of the lowest one-fifth of families in the country. D. an income three times the amount of money needed to purchase a nutritionally adequate diet.