Multiple Choice
According to the ____________,each country should specialize in the production and export of that good which it produces most efficiently,with the fewest labor hours.
A) theory of comparative advantage
B) theory of absolute advantage
C) theory of factor proportions
D) Leontief Paradox
E) product cycle theory
Correct Answer:
Verified
Correct Answer:
Verified
Q72: Although necessary to achieve profits,division of labor
Q73: _ is the ability to produce a
Q74: _ theory views products as passing through
Q75: According to _ theory,products pass through four
Q76: A(n)_ represents the total productive capabilities of
Q77: Opportunity costs are the returns foregone on
Q78: Companies seeking _ may locate in and
Q79: The evolution of trade into the form
Q81: Wassily Leontief found that the products that
Q82: The _ introduced the benefits of mass