International Economics Exam Questions With Correct Answers.
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International Economics
Institution
International Economics
International Economics Exam Questions
With Correct Answers.
Which of the following suggests that a nation will export the commodity in the production of
which a great deal of its relatively abundant and cheap factor is used? - answerThe
Heckscher-Ohlin theory
The Leontief paradox questioned t...
BRIGHTSTARS EXAM STUDY SOLUTIONS 8/15/2024 2:05 PM
International Economics Exam Questions
With Correct Answers.
Which of the following suggests that a nation will export the commodity in the production of
which a great deal of its relatively abundant and cheap factor is used? - answer✔✔The
Heckscher-Ohlin theory
The Leontief paradox questioned the validity of the theory of: - answer✔✔factor endowments
Classical trade theory emphasized which of the following as an underlying explanation of the
basis for trade? - answer✔✔productivity of labor inputs
Assume that Country A, in the absence of trade, finds itself relatively abundant in labor and
relatively scarce in land. The factor endowment theory reasons that with free trade, the internal
distribution of nation income in Country A will change in favor of: - answer✔✔Labor
Eli Heckscher and Bertil Ohlin are associated with the theory of comparative advantage that
stresses differences in: - answer✔✔Resource endowments among countries
Which trade theory suggests that a newly produced good, once exported, could ultimately end up
being imported as the technology is transferred to a lower-cost nation - answer✔✔product life
cycle theory
The leontief paradox: - answer✔✔suggested that the US exports labor intensive goods
The Heckscher-Ohlin theory explains comparative advantage as the result of differences in
countries: - answer✔✔relative abundance of various sources
According to the factor endowment model, countries heavily endowed with land will: -
answer✔✔export products that are land-intensive
factor endowments are: - answer✔✔labor
land
capital
entrepreneurship
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