In Heckscher-Ohlin (H-O) theory, differences in ________ across countries are considered to be the basis for comparative advantage.
A. factor endowments
B. production technologies
C. economic freedom
D. consumer tastes and preferences
Answer: A
You might also like to view...
Explain why "bad cars drive out the good ones" in the market for used cars
What will be an ideal response?
Keynesian economics developed in response to:
a. the Great Depression of the 1930s. b. the inflation following World War II. c. economic growth during the 1950s. d. the Vietnam War. e. the oil embargo in the 1970s.
For which of the following goods is the income elasticity of demand likely to be largest?
a. poultry products b. meals at restaurants c. lemonade d. used books e. paperback mystery novels
Janice has calculated the GDP for 2018 by using the total final goods times the 2018 prices of total goods. If Janice wishes to create a real value GDP value for 2018, what must she do?
A. Janice must adjust the total value 2018 GDP for inflation. B. Janice must divide the total value of consumer goods by the exported goods values. C. Janice must multiply the total value by the projected GDP for 2019.