Factor Endowments and Heckscher-Ohlin Theory
Social Studies
University
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10 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The Heckscher-Ohlin theorem looks to ________ to explain trade flows.
relative factor endowments
the existence of trade barriers
acquired comparative advantage
the differences in preferences among consumers
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The Heckscher-Ohlin theorem explains why the U.S. both imports and exports cars.
TRUE
FALSE
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The quantity and quality of ________ of a country are its factor endowments.
imports and exports
deficits and surpluses
labor, land, and natural resources
commodity money and fiat money
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Factor intensity is the amount of capital per unit of labour used in the production of commodities of X and Y
True
False
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Identify ways to define factor abundance.
Physical unit
Complete specialization
Autarky
Relative factor price
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Production possibility frontier skewed to the X-axis because of ____
industry X need more labour in their production
industry X need more capital in their production
country resources are more on Labour
country resources are more on Capital
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
An autarky point is ____
absence of trade
trade without protectionism
point of incomplete specialization
None of above
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