Exam 4: Trade and Resources: the Heckscher-Ohlin Model

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) At What point will this nation be in a notrade equilibrium?

Free

(Multiple Choice)

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Question 1

Correct Answer:

Verified

(Table: Data on Suburbia) Which of the following Statements is TRUE regarding the change in the marginal Product of labor as Suburbia moved from autarky to a free Trade situation?

Free

(Multiple Choice)

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Question 2

Correct Answer:

Verified

A country's effective factor endowment is defined as its:

Free

(Multiple Choice)

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Question 3

Correct Answer:

Verified

(Figure: A Country's Before and After Trade Equilibria) How Many shoes will this nation import?

(Multiple Choice)

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Question 4

In a capitalintensive industry, the labor/capital ratio will:

(Multiple Choice)

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Question 5

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) What Happened to the relative price of shoes in this nation after Trade?

(Multiple Choice)

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Question 6

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) How Many computers will this nation import?

(Multiple Choice)

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Question 7

Which of the following countries has the MOST physical Capital?

(Multiple Choice)

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Question 8

If Home is capital abundant, then when it begins to freely Trade with the rest of the world, the return to capital in Home should ___ and the real wage in Home Should _.

(Multiple Choice)

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Question 9

Consider two products, automobiles and shoes.If shoes are Labor intensive and automobiles are capital intensive, what Can we expect in freetrade conditions?

(Multiple Choice)

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Question 10

For which of the following does the HeckscherOhlin model Offer an explanation? I.gains from trade II.the pattern of trade. III.the effects of international trade on the returns to Mobile resources.

(Multiple Choice)

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Question 11

Suppose that, with trade, the price of shoes (which are Labor intensive) increases by 10%.Then which of the Following can you say for sure about returns to labor and Capital in the country?

(Multiple Choice)

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Question 12

The HO model predicts that the factor of production used More intensively in the production of exports will Experience:

(Multiple Choice)

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Question 13

In a laborabundant country, free trade will cause a(n) __ in the rental of capital and a(n) _ in The marginal product of capital.

(Multiple Choice)

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Question 14

A longrun model of trade basic to the determination of how Mobile factors of production affect national welfare and the Returns to the factors is known as:

(Multiple Choice)

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Question 15

Table: Data on Suburbia Use this table, which represents autarkic and free trade Production and consumption and resource usage for (Table: Data on Suburbia) How many units of which product Will Suburbia import?

(Multiple Choice)

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(37)

Question 16

The HeckscherOhlin theorem explains patterns of trade Between countries using:

(Multiple Choice)

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Question 17

Suppose that the United States and China each produce Steel and cloth.In the HeckscherOhlin model, if the United States enjoys a comparative advantage in steel production, Then:

(Multiple Choice)

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Question 18

Which of the following countries had the MOST illiterate Labor in 2010?

(Multiple Choice)

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Question 19

Compared with the rest of the world in 2010, the United States was MOST abundant in:

(Multiple Choice)

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Question 20

Showing 1 - 20 of 133

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) At What point will this nation be in a notrade equilibrium?

(Table: Data on Suburbia) Which of the following Statements is TRUE regarding the change in the marginal Product of labor as Suburbia moved from autarky to a free Trade situation?

A country's effective factor endowment is defined as its:

(Figure: A Country's Before and After Trade Equilibria) How Many shoes will this nation import?

In a capitalintensive industry, the labor/capital ratio will:

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) What Happened to the relative price of shoes in this nation after Trade?

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) How Many computers will this nation import?

Which of the following countries has the MOST physical Capital?

If Home is capital abundant, then when it begins to freely Trade with the rest of the world, the return to capital in Home should ___ and the real wage in Home Should _.

Consider two products, automobiles and shoes.If shoes are Labor intensive and automobiles are capital intensive, what Can we expect in freetrade conditions?

For which of the following does the HeckscherOhlin model Offer an explanation? I.gains from trade II.the pattern of trade. III.the effects of international trade on the returns to Mobile resources.

Suppose that, with trade, the price of shoes (which are Labor intensive) increases by 10%.Then which of the Following can you say for sure about returns to labor and Capital in the country?

The HO model predicts that the factor of production used More intensively in the production of exports will Experience:

In a laborabundant country, free trade will cause a(n) __ in the rental of capital and a(n) _ in The marginal product of capital.

A longrun model of trade basic to the determination of how Mobile factors of production affect national welfare and the Returns to the factors is known as:

Table: Data on Suburbia Use this table, which represents autarkic and free trade Production and consumption and resource usage for (Table: Data on Suburbia) How many units of which product Will Suburbia import?

The HeckscherOhlin theorem explains patterns of trade Between countries using:

Suppose that the United States and China each produce Steel and cloth.In the HeckscherOhlin model, if the United States enjoys a comparative advantage in steel production, Then:

Which of the following countries had the MOST illiterate Labor in 2010?

Compared with the rest of the world in 2010, the United States was MOST abundant in:

The Global Economy

Trade and Technology: the Ricardian Model

Gains and Losses From Trade in the Specific-Factors Model

Movement of Labor and Capital Between Countries

Increasing Returns to Scale and Monopolistic Competition

Import Tariffs and Quotas Under Perfect Competition

Import Tariffs and Quotas Under Imperfect Competition

International Agreements: Trade, Labor, and the Environment

Introduction to Exchange Rates and the Foreign Exchange Market

Exchange Rates I: the Monetary Approach in the Long Run

Filters

Exam 4: Trade and Resources: the Heckscher-Ohlin Model

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) At What point will this nation be in a no­trade equilibrium?

(Table: Data on Suburbia) Which of the following Statements is TRUE regarding the change in the marginal Product of labor as Suburbia moved from autarky to a free­ Trade situation?

A country's effective factor endowment is defined as its:

(Figure: A Country's Before and After Trade Equilibria) How Many shoes will this nation import?

In a capital­intensive industry, the labor/capital ratio will:

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) What Happened to the relative price of shoes in this nation after Trade?

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) How Many computers will this nation import?

Which of the following countries has the MOST physical Capital?

If Home is capital abundant, then when it begins to freely Trade with the rest of the world, the return to capital in Home should _________ and the real wage in Home Should _______.

Consider two products, automobiles and shoes.If shoes are Labor intensive and automobiles are capital intensive, what Can we expect in free­trade conditions?

For which of the following does the Heckscher­Ohlin model Offer an explanation? I.gains from trade II.the pattern of trade. III.the effects of international trade on the returns to Mobile resources.

Suppose that, with trade, the price of shoes (which are Labor intensive) increases by 10%.Then which of the Following can you say for sure about returns to labor and Capital in the country?

The HO model predicts that the factor of production used More intensively in the production of exports will Experience:

In a labor­abundant country, free trade will cause a(n) __________ in the rental of capital and a(n) _________ in The marginal product of capital.

A long­run model of trade basic to the determination of how Mobile factors of production affect national welfare and the Returns to the factors is known as:

Table: Data on Suburbia Use this table, which represents autarkic and free trade Production and consumption and resource usage for (Table: Data on Suburbia) How many units of which product Will Suburbia import?

The Heckscher­Ohlin theorem explains patterns of trade Between countries using:

Suppose that the United States and China each produce Steel and cloth.In the Heckscher­Ohlin model, if the United States enjoys a comparative advantage in steel production, Then:

Which of the following countries had the MOST illiterate Labor in 2010?

Compared with the rest of the world in 2010, the United States was MOST abundant in:

The Global Economy

Trade and Technology: the Ricardian Model

Gains and Losses From Trade in the Specific-Factors Model

Movement of Labor and Capital Between Countries

Increasing Returns to Scale and Monopolistic Competition

Import Tariffs and Quotas Under Perfect Competition

Import Tariffs and Quotas Under Imperfect Competition

International Agreements: Trade, Labor, and the Environment

Introduction to Exchange Rates and the Foreign Exchange Market

Exchange Rates I: the Monetary Approach in the Long Run

Filters

Figure: A Country's Before and After Trade Equilibria (Figure: A Country's Before and After Trade Equilibria) At What point will this nation be in a notrade equilibrium?

(Table: Data on Suburbia) Which of the following Statements is TRUE regarding the change in the marginal Product of labor as Suburbia moved from autarky to a free Trade situation?

In a capitalintensive industry, the labor/capital ratio will:

If Home is capital abundant, then when it begins to freely Trade with the rest of the world, the return to capital in Home should ___ and the real wage in Home Should _.

Consider two products, automobiles and shoes.If shoes are Labor intensive and automobiles are capital intensive, what Can we expect in freetrade conditions?

For which of the following does the HeckscherOhlin model Offer an explanation? I.gains from trade II.the pattern of trade. III.the effects of international trade on the returns to Mobile resources.

In a laborabundant country, free trade will cause a(n) __ in the rental of capital and a(n) _ in The marginal product of capital.

A longrun model of trade basic to the determination of how Mobile factors of production affect national welfare and the Returns to the factors is known as:

The HeckscherOhlin theorem explains patterns of trade Between countries using:

Suppose that the United States and China each produce Steel and cloth.In the HeckscherOhlin model, if the United States enjoys a comparative advantage in steel production, Then: