A) This country is completely specialized in the production of X.
B) This country consumes at point F.
C) The value of this country's consumption equals the value of its production.
D) None of the above.
F) All of the above
Correct Answer
verified
Correct Answer
verified
A) That different goods display different factor intensities in their production.
B) That some countries have no comparative advantage in anything.
C) That trade may not be beneficial.
D) All of the above.
F) A) and C)
Correct Answer
verified
Correct Answer
verified
A) wages and rents should fall in A.
B) rents and rents should rise in A.
C) wages should rise and rents should fall in A.
D) wages should fall and rents should rise in A.
F) A) and B)
Correct Answer
verified
Correct Answer
verified
A) In the HO model complete specialization in the production of exports is a likely outcome of international trade.
B) In the classical model, complete specialization seldom occurs due to the assumption of increasing opportunity costs.
C) Complete specialization is more likely if opportunity costs change little as the production point moves closer to either axis.
D) All of the above are true.
F) B) and D)
Correct Answer
verified
Correct Answer
verified
A) more of the capital intensive good and less of the labor intensive good.
B) more of both goods.
C) less of the capital intensive good and more of the labor intensive good.
D) less of both goods.
F) B) and C)
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
France
France has a comparative ad...View Answer
Correct Answer
verified
France has a comparative ad...
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