After accounting for differing _________ as well as _________, evidence for many countries is broadly consistent with the HeckscherOhlin model.
a. factor productivities; factor endowments
b. preferences; factor productivities
c. preferences; factor endowments
d. factor endowments; generalities
Ans: a. factor productivities; factor endowments
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A) i only B) ii only C) iii only D) both ii and iii E) both i and ii
A profit-maximizing monopolist operates where demand is: a. inelastic
b. unit elastic. c. elastic. d. infinitely elastic.
The supply curve for a perfectly competitive industry is obtained by
a. making an empirical study of historical data. b. vertically summing the supply curves of firms in the industry. c. horizontally summing the average cost curves of firms in the industry. d. horizontally summing the supply curves of firms in the industry.
The slope of a line with rise of five and run of two is positive.
Answer the following statement true (T) or false (F)