The Heckscher-Ohlin model of international trade uses _____ and ______ to explain trade patterns.
A) comparative advantage; absolute advantage
B) factor abundance; factor intensity
C) factor availability; factor usability
D) tariffs; quotas
Correct Answer:
Verified
Q9: The implication of resources being mobile domestically
Q10: The Heckscher-Ohlin Model assumes that:
A) consumer tastes
Q11: The Heckscher-Ohlin model assumes that the factors
Q12: In the text, which of the following
Q13: A long-run model of trade basic to
Q15: The Heckscher-Ohlin model assumes that a nation's
Q16: The Heckscher-Ohlin Model assumes that:
A) factor endowments
Q17: In a capital-intensive industry, the labor-capital ratio
Q18: Suppose that country 1 is capital abundant
Q19: The Heckscher-Ohlin model assumes that technology in
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