A. Factor endowment theory
B. Product life cycle theory
C. Economies of scale theory
D. Overlapping demand theory
Related Mcqs:
- one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?
A. quickly
B. slowly
C. very infrequently
D. instantly - When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?
A. trade diversion
B. trade channeling
C. trade creation and trade diversion
D. trade creation - If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?
A. perfectly inelastic
B. perfectly elastic
C. upward sloping
D. downward sloping - Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?
XA. wages and rents should fall in Country A
B. wages and rents should rise in Country A
C. wages should rise and rents should fall in Country A
D. wages should fall and rents should raise in Country A - Which of the following is true with regard to a tax on labor income? Taxes on labor income tend to encourage ?
A. the unscrupulous to enter the underground economy
B. the elderly to retire early.
C. all the things described in these answers.
D. second earners to stay home.
E. workers to work fewer hours - _____ 1954 study of U.S trade patterns showed that U.S exports were labor-intensive compared with U.S imports, even though the United States was widely regarded as a relatively capital-abundant nation ?
A. Paul Samuelson’s
B. Wolfgang Stolpher’s
C. Staffan Linder’s
D. Wassily Leontief’s - By restricting labor supply a trade union can _____ and _______?
A. increase the wage, increase employment
B. maintain the wage, increase employment
C. increase the wage, lower employment
D. maintain the wage, lower employment - According to the trade theory of Staffan Linder trade tends to be most pronounced in manufactured goods when trading countries have ?
A. similar endowments of natural resources
B. similar levels of technology
C. similar per-capita incomes
D. similar wage levels - There is a decentralized market where geographically dispersed dealers are linked by telephones and computer screens. The market is for securities not listed on a stock or bond exchange. Name the market ?
A. Grey market
B. Over-the counter (OTC)
C. Open market
D. Back market - If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?
A. downward sloping
B. perfectly inelastic
C. upward sloping
D. perfectly elastic
