Economics MCQs

A. Theory of factor endowments
B. Theory of overlapping demands
C. Economies of scale theory
D. Product life cycle theory

A. Adam smith
B. David ricardo
C. Wassily leontief
D. Eli heckscher and bertil ohlin

Xa. wages and rents should fall in country a
B. Wages and rents should rise in country a
C. Wages should rise and rents should fall in country a
D. Wages should fall and rents should raise in country a

A. Is less than the cost of transporting it between them
B. Is greater than the cost of transporting it between them equals the cost of transporting it between them
C. Equals the cost of transporting it between them
D. More information in needed to answer this

A. Technologically efficient relative to the rest of the world
B. Capital abundant relative to the rest of the world
C. Labor abundant relative to the rest of the world
D. All of the above

A. Evidence against the ricardi an model
B. Evidence against the heckscher-ohl in model
C. Support for the ricardian model
D. Support for the heckcher ohlin model

A. Tastes
B. Technology
C. Factor/resource
D. Opportunity cost

A. Ricardian theory of comparative advantage
B. Heckscher ohl in theory of comparative advantage
C. Linder theory of overlapping demand
D. All of the above

A. Calculate the capital and labor required to produce $1 million of u.s exports and imports
B. Calculate the labor productivity of america workers relative to foreign workers
C. Calculate the capital productivity of american capital relative to foreign capital
D. All of the above

A. Stop the process of product price equalization and factor price equalization before they are complete:
B. Ensure that the process of product price equalization and factor price equalization are complete
C. Eliminate all of the feasible gains from international trade
D. Maximize all of the feasible gains from international trade