Multiple Choice
Which of the following statements is true?
A) The Heckscher-Ohlin model offers a reasonable explanation of the pattern of trade and the gains from trade.
B) The Heckscher-Ohlin trade model does not offer an explanation of the pattern of trade.
C) The Heckscher-Ohlin trade model does not offer an explanation of the gains from trade.
D) The Ricardian trade model (with labor as the only input) offers a better explanation of the pattern of trade and the gains from trade than the Heckscher-Ohlin model.
Correct Answer:
Verified
Correct Answer:
Verified
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