Multiple Choice
To determine whether a nation has an "abundance" of a resource, economists look at:
A) the exports of the nation.
B) the imports of the nation.
C) the total quantity of that resource compared with the total quantity of the other resource.
D) a nation's share of the resource compared with its share of world GDP.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: With the "opening" of trade, the item
Q3: (Figure: A Country's Before and After Trade
Q4: What was "paradoxical" about the results of
Q5: (Figure: A Country's Before and After Trade
Q6: According to the application in the text,
Q7: In the Heckscher-Ohlin Model, as trade occurs
Q8: Which of the following is one conclusion
Q9: (Figure: Home and Foreign Autarky Equilibria) At
Q10: Which of the following statements is NOT
Q11: In a capital-intensive industry, the labor-capital ratio