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Hamad Sources of Comparative Advantage 02/12/2021
A. Absolute advantage determines the distribution of the gains from trade
B. Comparative advantage determines the distribution of the gains from trade
C. The division of labor is limited by the size of the world market
D. A country exports goods for which its resource endowments are most suited
- According to the Heckscher-Ohlin model the source of comparative advantage is a country’s ?
- A. technology B. advertising C. factor endowments D. both (a) and (c)...
- The comparative advantage model of Ricardo was based on ?
- A. intraindustry specialization and trade B. interindustry specialization and trade C. demand conditions underlying specialization and trade D. income conditions underlying specialization and trade...
- The factor endowment model of international trade was developed by ?
- A. Adam Smith B. David Ricardo C. John Stuart Mill D. Eli Heckscher and Bertil Ohlin...
- One of the predictions of the Heckscher-Ohlin model is that ?
- A. countries with different factor endowments but similar technologies and preferences will have a strong basis for trade with each other B. countries with tend to specialize but not completely in their comparative advantage good C. reciprocal demand leads to an equilibrium terms of trade by inducing change in both demand and supply D. All … One of the predictions of the Heckscher-Ohlin model is that ?Read More...
- The Heckshcer-Ohl assumes that are indentical between countries?
- A. tastes and preferences B. technology levels C. factor indowments D. Both A and B...
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