Using the HO model, assume that the United States is capital abundant and Mexico is labor abundant. If soybeans are capital intensive and avocados are labor intensive, it would be reasonable to expect the United States to

A) specialize completely in soybean production.
B) specialize completely in avocado production.
C) increase soybean production, but still produce some avocados.
D) increase avocado production, but still produce some soybeans.

C

Economics

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Minimum-price laws designed to preserve competition

A) offer the certainty of lower prices in order to eliminate the possibility of higher prices. B) offer the certainty of higher prices in order to eliminate the possibility of higher prices. C) offer the possibility of higher prices in order to eliminate the certainty of higher prices. D) offer the sellers more competition among themselves.

Economics

Over the past 100 years, real GDP per person in the United States has grown at an average of ________ percent a year

A) 1 B) 2 C) 3 D) 4

Economics