The assumption that the two goods are made using different factor intensities raises the likelihood of incomplete specialization after trade begins
Indicate whether the statement is true or false
TRUE
Explanation: It introduces increasing opportunity costs into the model.
Economics
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The symmetry principle states that
A) the poorest person must be made as well off as possible. B) income should be transferred from the rich to the poor up to the point of complete equality. C) resources should be common property. D) people in similar situations must be treated similarly.
Economics
Historically, the leading official reserve asset was
A) gold. B) the U.S. dollar. C) the British pound. D) the German mark.
Economics