The Heckscher-Ohlin model differs from the Ricardian model of Comparative Advantage in that the former
A) has only two countries.
B) has only two products.
C) has two factors of production.
D) has two production possibility frontiers (one for each country).
E) has varying wage rates.
C
Economics
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If a country's GDP increases and all other variables remains constant, ________
A) its income per worker will increase B) its income per capita will fall C) its GNP will fall D) its trade surplus will increase
Economics
Recall from Chapter 5: Other things constant, when households lower their time preferences, and demonstrate a willingness to postpone some present consumption for future consumption,
A) their savings increase. B) their savings decrease. C) the budget deficit increases. D) the budget deficit decreases.
Economics