India is NOT a _____ abundant nation

Related MCQs

• 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.
• If relatively capital-abundant country A opens trade with relatively labor- abundant country B an the trade takes place in accordance with the Heckscher-Ohlin Theorem. What would be the consequence for factor prices (w/r) in the two countries?
• If a nation has an open economy it means that the nation:
• According to HO Model, India should import ______ abundant goods
• Countries H and F operate in an H-O world. Each country produces two goods, A and B. Good A is relatively capital intensive and country F is relatively labor abundant. Suppose however, that the production technology is not the same in the two countries. That is, H has a superior technology of production compared to F.
• If a nation gains from trade its consumption point is
• The curve that shows howmuch of its import commodity a nation requires in exchange for various quantities of its export commodity is
• The amount of commodity a nation is willing to give up to get an additional unit of another commodity and still remain on the same indifference curve is known as
• ______________ is a summary statement of all economic transactions of the residents of a nation with the residents of Rest of the World (ROW) during a particular period of time.
• A nation engaging in trade according to the Ricardian model will find its consumption bundle