Economics MCQs

Page No. 338

Wassily Leontief’s results can be interpreted as ?


a evidence against the Ricardi an model


bevidence against the Heckscher-Ohl in model


csupport for the Ricardian model


dsupport for the Heckcher Ohlin model



Leontief’s result were considered paradoxical because the United Stated was believed to be ?


atechnologically efficient relative to the rest of the world


bcapital abundant relative to the rest of the world


c labor abundant relative to the rest of the world


dAll of the above



In his empirical tests, Wassily Leontief used an input-output table to ?


acalculate the capital and labor required to produce $1 million of U.S exports and imports


b calculate the labor productivity of America workers relative to foreign workers


ccalculate the capital productivity of American capital relative to foreign capital


dAll of the above



Wassily Leontief used an input output table in order to test the ?


a Ricardian theory of comparative advantage


b Heckscher Ohl in theory of comparative advantage


cLinder theory of overlapping demand


dAll of the above



The Heckscher-Ohlin theorem states that a country will have comparative advantage in the good whose production in relatively intensive in the with which the country is relatively abundant ?


a tastes


btechnology


cfactor/resource


dopportunity cost


View Answer factor/resource

By reducing the volume of trade transportation costs tend to ?


a stop the process of product price equalization and factor price equalization before they are complete:


bensure that the process of product price equalization and factor price equalization are complete


celiminate all of the feasible gains from international trade


d maximize all of the feasible gains from international trade



The analyzes the income distribution effects of trade in the short run when resources are immobile among industries ?


aStolpher-Samuelson theory


bfactor endowment theory


cspecific factors theory


doverlapping demand theory



The comparative advantage model of Ricardo was based on ?


a intraindustry specialization and trade


b interindustry specialization and trade


cdemand conditions underlying specialization and trade


d income conditions underlying specialization and trade



According to the Heckscher-Ohlin model the source of comparative advantage is a country’s ?


a technology


badvertising


cfactor endowments


dboth (a) and (c)


View Answer factor endowments

Difference in environmental standards or other government regulations among nations ?


ahave no impact on patterns of international trade


bhave tended to make U.S steel companies more competitive internationally


c can affect production costs and thus alter comparative advantages and trade patterns


dhave been eliminated by the nations participating in NAFTA



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