The theory that states that a country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product is the?

Related Mcqs:

Which American industry has least been affected by import competition in recent years ?

A. Automobiles B. Steel C. Radios and TVs D. Computer software...

Government payments made to domestic firms in order to encourage exports are called ?

A. Side payments B. Tariffs C. subsidies D. export quotas...

The main cause of different relative costs between countries are ?

A. relative factor competition B. relative factor mobility C. relative factor substitution D. relative factor endowments...

Arguments for free trade are sometimes disregarded by politicians because ?

A. Maximizing domestic efficiency is not considered imports B. Maximizing consumer welfare may not be a chief priority C. There exist sound economic reasons for keeping one’s economy isolated from other economies D. Economists tend to favor high protected domestic markets...

The marginal propensity of consume is equal to ?

A. Total spending / total consumption B. Total consumption / total income C. Change in consumption / change in income D. Change in consumption / change in savings...