The following input-requirements data are for Country A, a capital-abundant country that produces nothing but bread and wine using only capital and labor as inputs. According to the H-O theory, Country A has a comparative advantage in the production of 1 Pound of Bread1 Gallon of WineCapital Input5 units20 unitsLabor Input4 units10 units
A. wine.
B. both bread and wine.
C. bread.
D. neither bread nor wine.
Answer: A
You might also like to view...
Movie theatres offer seniors discounts because
a. Seniors have a more inelastic demand for movie tickets b. Seniors have a more elastic demand for movie tickets c. Seniors have a higher opportunity cost of their time d. Only B&C
A. there is a gap in the marginal revenue curve within which changes in marginal cost will not affect output or price. B. demand is inelastic above and elastic below the going price. C. the model assumes firms are engaging in some form of
collusion. D. the associated marginal revenue curve is perfectly elastic at the going price. A. demand curve will be less elastic than if the other oligopolists matched X's price changes. B. demand curve will be more elastic than if the other oligopolists matched X's price changes. C. marginal revenue curve will have a vertical gap. D. demand and marginal revenue curves will coincide.
What are the three levels of government?
What will be an ideal response?
Holding money as a medium of exchange to purchase goods and services and make payments is known as the
A) spending demand for money. B) transactions demand for money. C) precautionary demand for money. D) asset demand for money.