Single Choice Questions: (8) According to____, international trade produces a co
ID: 1131393 • Letter: S
Question
Single Choice Questions:(8) According to____, international trade produces a convergence of relative goods prices. This convergence, in turns, causes the convergence of the relative factor prices. A. stolper-sammelson effect B. H-O proposition C. Factor price equalization proposition D. Rybczynski effect
(9) If Australia has more land per worker, and Belgium has more capital per worker, then if trade were to open up between these two countries, ____ (Topic8) A.the real income of capital owners in Australia would rise. B.the real income of labor in Australia would clearly rise. C.the real income of labor in Belgium would clearly rise. D.the real income of landowners in Belgium would fall.
(10) One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative advantage is by assuming that ___ is (are) identical in all countries. (Topic 9) A.factor of production endowments B.scale economies C.factor of production intensities D.technology
(11) If two countries were very different in their relative factor availabilities, then we would not expect which of the following to be empirically supported? (Topic7) A.The Heckscher - Ohlin Theorem B.The Factor Price Equalization Theorem. C.The Law of One Price D.The Law of Demand
(12) If some industries exhibit internal (firm specific) increasing returns to scale in each country, we should not expect to see ___( Topic 20) A.intra-industry trade between countries. B.perfect competition in these industries. C.inter-industry trade between countries. D.high levels of specialization in both countries.
(13) International trade based on external scale economies in both countries is likely to be carried out by a___( Topic 21) A.relatively large number of price competing firms. B.relatively small number of price competing firms. C.relatively small number of competing oligopolists. D.monopoly firms in each country/industry.
(14) The theory of absolute advantage was developed by(Topic 1) A.the Mercantilists B. David Hume C. Adam Smith D. David Ricardo Single Choice Questions:
(8) According to____, international trade produces a convergence of relative goods prices. This convergence, in turns, causes the convergence of the relative factor prices. A. stolper-sammelson effect B. H-O proposition C. Factor price equalization proposition D. Rybczynski effect
(9) If Australia has more land per worker, and Belgium has more capital per worker, then if trade were to open up between these two countries, ____ (Topic8) A.the real income of capital owners in Australia would rise. B.the real income of labor in Australia would clearly rise. C.the real income of labor in Belgium would clearly rise. D.the real income of landowners in Belgium would fall.
(10) One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative advantage is by assuming that ___ is (are) identical in all countries. (Topic 9) A.factor of production endowments B.scale economies C.factor of production intensities D.technology
(11) If two countries were very different in their relative factor availabilities, then we would not expect which of the following to be empirically supported? (Topic7) A.The Heckscher - Ohlin Theorem B.The Factor Price Equalization Theorem. C.The Law of One Price D.The Law of Demand
(12) If some industries exhibit internal (firm specific) increasing returns to scale in each country, we should not expect to see ___( Topic 20) A.intra-industry trade between countries. B.perfect competition in these industries. C.inter-industry trade between countries. D.high levels of specialization in both countries.
(13) International trade based on external scale economies in both countries is likely to be carried out by a___( Topic 21) A.relatively large number of price competing firms. B.relatively small number of price competing firms. C.relatively small number of competing oligopolists. D.monopoly firms in each country/industry.
(14) The theory of absolute advantage was developed by(Topic 1) A.the Mercantilists B. David Hume C. Adam Smith D. David Ricardo Single Choice Questions:
(8) According to____, international trade produces a convergence of relative goods prices. This convergence, in turns, causes the convergence of the relative factor prices. A. stolper-sammelson effect B. H-O proposition C. Factor price equalization proposition D. Rybczynski effect
(9) If Australia has more land per worker, and Belgium has more capital per worker, then if trade were to open up between these two countries, ____ (Topic8) A.the real income of capital owners in Australia would rise. B.the real income of labor in Australia would clearly rise. C.the real income of labor in Belgium would clearly rise. D.the real income of landowners in Belgium would fall.
(10) One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative advantage is by assuming that ___ is (are) identical in all countries. (Topic 9) A.factor of production endowments B.scale economies C.factor of production intensities D.technology
(11) If two countries were very different in their relative factor availabilities, then we would not expect which of the following to be empirically supported? (Topic7) A.The Heckscher - Ohlin Theorem B.The Factor Price Equalization Theorem. C.The Law of One Price D.The Law of Demand
(12) If some industries exhibit internal (firm specific) increasing returns to scale in each country, we should not expect to see ___( Topic 20) A.intra-industry trade between countries. B.perfect competition in these industries. C.inter-industry trade between countries. D.high levels of specialization in both countries.
(13) International trade based on external scale economies in both countries is likely to be carried out by a___( Topic 21) A.relatively large number of price competing firms. B.relatively small number of price competing firms. C.relatively small number of competing oligopolists. D.monopoly firms in each country/industry.
(14) The theory of absolute advantage was developed by(Topic 1) A.the Mercantilists B. David Hume C. Adam Smith D. David Ricardo
Explanation / Answer
Question 8). Answer :- Option B). H-O proposition (Heckscher-Ohlin proposition).
Question 9). Answer :- Option D). The real income of landowners in Belgium would fall.
Question 10). Answer :- Option D). Technology.
Question 11). Answer :- Option B). The Factor Price Equalization Theorem.
Question 12). Answer :- Option B). Perfect competition in these industries.
Question 13). Answer :- Option A). Relatively large number of price competing firms.
Question 14). Answer :- Option C). Adam Smith.