According to the Heckscher-Ohlin model:
a. a relatively labor scarce country produces labor intensive goods.
b. the labor productivity varies across different countries.
c. the technological advancement varies across countries.
d. the taste and preference patterns of the consumers are not similar across the countries.
e. a capital abundant country exports sophisticated, manufactured products.
e
You might also like to view...
Barter can best be defined as:
a. the direct exchange of one good for money. b. the direct exchange of money for a good. c. the direct exchange of goods and services without the use of money. d. the direct exchange of labor services for wages. e. the payment of interest on a savings account.
What type of cost has NO impact on determining the profit-maximizing sales quantity?
A. Avoidable fixed costs B. Sunk fixed costs C. Variable costs D. Average variable costs
The _______________________ (TARP) is an example of a government program created to help stabilize the financial sector during the financial crisis of 2007-2009
A) Times Are Really Problematic B) Tarnished Assets Recovery Program C) Troubled Assessments Recovery Program D) Troubled Assets Relief Program
Signals are
A. compact ways of conveying to economic decision makers information needed to identify industries where more resources are needed. B. the method by which firms determine their profit maximizing quantity. C. used by economic decision-makers to inform others about their plans. D. the method by which government planners inform economic decision-makers about the types of decisions they should make.