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

Related Mcqs:

1. 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
   C. Linder theory of overlapping demand
   D. All of the above

2. In his empirical test of comparative advantage Wassily Leontief found that ?

   A. U.S exports are capital intensive relative to U.S imports
   B. U.S imports are labor intensive relative to U.S exports
   C. U.S exports are neither labor nor capital intensive
   D. None of the above

3. Wassily Leontief’s results can be interpreted as ?

   A. evidence against the Ricardi an model
   B. evidence against the Heckscher-Ohl in model
   C. support for the Ricardian model
   D. support for the Heckcher Ohlin model

4. The input-output table, when divided vertically shows ?

   A. the inputs to each industry from other industries and sectors
   B. development planning and the required information on national income growth
   C. the planned public capital divided by feasible actual industrial projects public capital
   D. how the output of each industry is distributed within the sectors of the economy

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

   A. technologically efficient relative to the rest of the world
   B. capital abundant relative to the rest of the world
   C. labor abundant relative to the rest of the world
   D. All of the above

6. Engineers for the All-Terrain Bike Company have determined that a 15% increase in all inputs will cause a 15% increase in output Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases?

   A. average costs to remain constant
   B. average costs to decrease
   C. average costs to increase
   D. marginal costs to increase

7. For the United States empirical studies indicate that over the past two hundred years the cost of international transportation relative to the value of U.S imports has ?

   A. increased
   B. Decreased
   C. Not changed
   D. Any of the above

8. If both input and output markets are competitive and firms are profit maximizing, then in equilibrium each factor of production earns ?

   A. an amount equal to the price of output times total output
   B. the amount allocated by the political process
   C. an equal share of output
   D. the value of its marginal product

9. Which of the following assumptions underlying input-output analysis raises about its validity ?

   I- The technical coefficients are fixed which means so substitution between inputs occurs
   II- There are no externalities so that the total effect of carrying out several activities is the sum of the separate effects
   III- Each good is produced by only one industry and each industry produces only one commodity
   IV- There is no technical change

   A. I and II only
   B. I, II, III only
   C. I, II, IV only
   D. I, II, III and IV

10. If input price prices adjusted very rapidly to output prices as classical economists argue the Philips curve would be ?

    A. Vertical or nearly vertical
    B. upward sloping
    C. downward sloping
    D. horizontal or nearly horizontal