If we measure scarcity or abundance correctly, we should
Use the concept of "effective factor endowment." This
Means:
A) the actual factor endowment multiplied by the average productivity of workers compared with its share of world
GDP.
B) trying to find out how much labor and capital are really involved in producing goods competing with imports and
Exports.
C) measuring more effectively a nation's actual factor endowment.
D) the actual factor endowment of labor multiplied by the productivity of capital, because, effectively, the productivity
Of one depends on the quantity of the other.
Correct Answer:
Verified
Q86: SCENARIO: CANADA AND THE UNITED STATES
Canada and
Q87: A country's effective factor endowment is defined
Q87: The wage paid to labor should increase
Q88: SCENARIO: FRANCE AND ITALY
(1) France and Italy
Q89: To determine whether a nation has an
Q90: SCENARIO: FRANCE AND ITALY
(1) France and Italy
Q92: SCENARIO: FRANCE AND ITALY
(1) France and Italy
Q93: With the "opening" of trade, the item
Q94: As trade occurs, increased imports will force
Q95: According to the HeckscherOhlin model, international
Trade for
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