According to the Heckscher-Ohlin theory, comparative advantage is based on:
a. labor productivity differences.
b. product life cycles.
c. the availability of skilled resources.
d. consumer tastes and preferences.
e. the relative abundance of the factors of production.
e
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Suppose the government of a town of 2,000 people implements a tax on each of its 2,000 citizens to raise $1,000 for a sculpture that will be placed in the common area of a 5-person neighborhood
Each of the 5 people in the small neighborhood will receive $120 in benefits from the sculpture. This tax is likely to A) generate a great deal of opposition from taxpayers. B) generate a great deal of opposition from the 5 people in the affected neighborhood. C) generate little opposition from a majority of its taxpayers. D) generate the desirable social outcome.
The natural rate of unemployment in the United States
a. has consistently equaled 6 percent b. has increased as the federal budget deficit has fallen c. is similar to the natural rate in European countries d. has increased in recent years e. is now unusually high because so many women have entered the labor force
According to the following graphs, what is X1?
The price of Y is $15 per unit.
A. 20 B. 12 C. 10 D. 18 E. none of the above
In order for something to function as money, it must act as a
What will be an ideal response?