Which of the following is a critical element of the Heckscher-Ohlin model?
A) That different goods display different factor intensities in their production.
B) That some countries have no comparative advantage in anything.
C) That trade may not be beneficial.
D) All of the above.
A
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A) not relevant in the U.S. economy today. B) major topics in macroeconomics. C) unique only to capitalistic economies. D) very important in the study of microeconomics.
Often you will hear students say that a college degree is nothing more than a piece of paper
They argue that there are many successful people who don't go to college that are managing large corporations or otherwise have fulfilling and rewarding careers. Given that this is true does this undermine the usefulness of a college degree as a signaling device?