In his empirical test of comparative advantage, Wassily Leontief found that

Related MCQs

• The Ricardian theory of comparative advantage states that a country has a comparative advantage in widgets if
• The analysis method used in Leontief’s study
• Given below is a table whowing the maximum amount of wheat and cloth that the U K and U S could produce if they fully utilize all the factors of production with the best technology available indicate the comparative advantage of U K and U S. U K U S Bushels of wheat 50 120 Meters of Cloth 150 80
• The principle of comparative advantage was first introduced by
• Who reoriented comparative advantage theory?
• Haberler reconstituted comparative advantage theory on the basis of ____
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• Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land. Note that wages are the returns to labor and rents are the returns to land. According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B.
• In order to know whether a country has a comparative advantage in the production of one particular product we need information on at least ____unit labor requirements
• The Heckscher-Ohlin model differs from the Ricardian model of Comparative Advantage in that the former