According to the Heckscher-Ohlin model
A) the gainers from trade could compensate the losers and still retain gains.
B) everyone gains from trade.
C) the scarce factor gains from trade and the abundant factor loses.
D) a country gains from trade if its exports have a high value added.
E) only the country with the more advanced technology gains from trade.
A
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According to the quantity theory of money, a 10 percent increase in the quantity of money ultimately leads to a 10 percent increase in
A) real national income. B) real GDP. C) the price level. D) velocity.
The larger firms in the red-meat industry have blunted the effects of competition by relying on product differentiation, which in effect, creates a downward-sloping demand curve for each firm's product
Indicate whether the statement is true or false
According to the law of supply, as the price of a good increases,
a. buyers will buy more of the good. b. buyers will buy less of the good. c. sellers will produce more of the good. d. sellers will produce less of the good.
Which of the following statements about a price-matching strategy is incorrect?
A. It may be applied in situations besides Bertrand oligopoly. B. It only guarantees to match prices that are advertised publicly. C. It requires that the firms can monitor their rival's prices. D. It reduces the incentive for a rival firm to initiate a price war.