Leontief reconciled his results by arguing that
A) American labor is more efficient than foreign.
B) American capital is more efficient than foreign.
C) Foreign capital is more efficient than American.
D) Foreign labor is more efficient than American.
A
You might also like to view...
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
You are at a sports memorabilia convention and you are the last of 100 people chosen to have your picture taken with either Joe Montana or Nolan Ryan
Your payoff depends on how quickly you can have your picture taken, as you have many other things you want to see at the convention. You have no preference with whom you have your picture taken, and since you were the last chosen you will be the last person in line to get your picture taken with the sports legend you select. Identify all the Nash equilibria in this game and explain your reasoning.
Policies that redistribute income
a. reduce the rewards of high-income earners. b. raise the rewards of low-income earners. c. reduce the incentive to earn high income. d. All of the above are correct.
What is the required reserve ratio (RRR)?
(A) The ratio of commercial to personal loans that a bank makes. (B) The amount of money a bank has to loan out. (C) The portion of a deposit that a bank must keep on hand. (D) The deposits that commercial companies make in banks.