The factor price ratio(PC/PL) A < (PC/PL) B of countries A & B implies
A) Country A is abundant in labour
B) Country B is abundant in capital
C) Country B is abundant in labour
D) Country A is abundant in capital
Correct Answer:
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Q5: The necessity of absolute differences in costs
Q6: The opportunity cost theory considers
A)Labour as the
Q7: The Comparative theory of international trade is
Q8: The H-O theory of international trade was
Q9: Community indifference curves have the same characteristics
Q11: The H-O theory assumed the prevalence of
A)Monopolistic
Q12: The production possibility curve represents
A)The supply side
B)The
Q13: Relative factor abundance in H-O theory of
Q14: The slope of the production possibility curve
Q15: The term 'factor intensity' refers to
A)The relative
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