A. calculate 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
C. calculate the capital productivity of American capital relative to foreign capital
D. All of the above
Author: Adden wafa
A. Ricardian theory of comparative advantage
B. Heckscher Ohl in theory of comparative advantage
C. Linder theory of overlapping demand
D. All of the above
A. tastes
B. technology
C. factor/resource
D. opportunity cost
A. stop the process of product price equalization and factor price equalization before they are complete:
B. ensure that the process of product price equalization and factor price equalization are complete
C. eliminate all of the feasible gains from international trade
D. maximize all of the feasible gains from international trade
A. Stolpher-Samuelson theory
B. factor endowment theory
C. specific factors theory
D. overlapping demand theory
A. intraindustry specialization and trade
B. interindustry specialization and trade
C. demand conditions underlying specialization and trade
D. income conditions underlying specialization and trade
A. technology
B. advertising
C. factor endowments
D. both (a) and (c)
A. have no impact on patterns of international trade
B. have tended to make U.S steel companies more competitive internationally
C. can affect production costs and thus alter comparative advantages and trade patterns
D. have been eliminated by the nations participating in NAFTA
A. Explains why the United States might export autos and import clothing
B. Explains why the United States might export and import differentiated versions of the same product such as different types of autos
C. Assumes that transport costs are very low or do not exist
D. ignores seasonal considerations for agricultural goods
A. increase in the volume of trade
B. Smaller gain from trade
C. Decline in the income of home producers
D. Decrease in the level of specialization in production
