The cross-trade of very similar products exported and imported by trading partners seems to contradict which of the following model(s)?
a. Ricardian
b. Heckscher-Ohlin
c. specific-factors
d. It contradicts all of these models.
Ans: d. It contradicts all of these models.
You might also like to view...
Which of the following is not cited as one of the factors that accounts for the large-scale production that exists in many sectors of the economy?
A) Economies of scale. B) Advertising and image differentiation. C) The minimum efficient scale of operation in many industries is quite high relative to market demand. D) Risk spreading.
PriceQuantity SuppliedQuantity Demanded$00300$110250$250180$390150$4120120$515090$618050 Refer to Table 6.1, which gives the daily supply and demand schedules for cups of coffee at a kiosk in a shopping mall. If the government places a $4 per cup tax on coffee, how many cups of coffee will be bought and sold after the tax is imposed?
A. 50 B. 90 C. 150 D. 120
A production function shows the least amount that a firm will produce given the amount of labor input.
Answer the following statement true (T) or false (F)
The inelastic demand for agricultural products means that:
A. Large changes in agricultural production result in no change in farm prices and incomes B. Small changes in agricultural production result in no change in farm prices and incomes C. Large changes in agricultural production result in relatively smaller changes in farm prices and incomes D. Small changes in agricultural production result in relatively larger changes in farm prices and incomes