The Heckscher-Ohlin model is an alternative to the classical theory of international trade that focuses on the factors of production that countries possess
Indicate whether the statement is true or false
TRUE
Economics
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What is the price of a TV in an open economy without a quota?
A. $75 B. $125 C. $100 D. $150
Economics
As output decreases, average fixed costs
A. initially decrease and then increase. B. decrease. C. increase. D. remain constant.
Economics
“Trade deficits are a mixed blessing.” Interpret and elaborate.
What will be an ideal response?
Economics
Refer to the figure. Assuming this market is representative of the economy as a whole, a positive demand shock will:
A. increase both the price level and the quantity of output produced.
B. increase output but leave prices unchanged.
C. lower the price level but leave output unchanged.
D. raise the price level but leave output unchanged.
Economics