Which of the following theorems predicts that trade benefits the abundant factors of a country and harms the scarce factors?
A) The Stolper-Samuelson theorem.
B) The Rybczynski theorem.
C) The Heckscher-Ohlin theorem.
D) None of the above.
A
Economics
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The real-income effect is likely to be greater when
A) the substitution effect is not very large. B) the marginal utility of the last unit is high. C) the marginal utility per dollar spent on the last unit is high. D) the good is an expensive good.
Economics
Harry needs to hire an accountant but does NOT know how to find a good one. The accountant is a(n)
A) experience good. B) credence good. C) logo good. D) search good.
Economics