Suppose that Brazil is capital abundant and Chile is natural resource abundant. If timber is natural resource intensive and computers are capital intensive, then according to the Heckscher-Ohlin Theorem, Chile should export goods that
A) intensively use labor input.
B) intensively use capital input.
C) intensively use natural resources.
D) use capital and labor in about equal proportions.
C
Economics
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An economic survey observed that a 20 percent cut in the price of a certain line of women's clothing, almost doubled the quantity demanded of the clothing. This led economists to conclude that the demand for this line of clothing is _____
a. highly elastic b. highly inelastic c. unit-elastic d. perfectly elastic e. perfectly inelastic
Economics
In the 1970s we had _____ recessions and in the 1980s we had _____ recessions.
Fill in the blank(s) with the appropriate word(s).
Economics