week 3 quiz - Grade Details 1. Question: If the...

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Grade Details 1. Question: If the capital/labor ratio in import-competing industries in country A is $8,000 per worker and the capital/labor ratio in A's export industries is $4,000 per worker, then country A's Leontief statistic is Your Answer: 0.50. 0.67. 1.00. 2.00. CORRECT Points Received: 1 of 1 Comments: 2. Question: Suppose that, in a real-world situation, a labor-abundant country's tariffs and nontariff barriers are levied relatively more heavily on labor-intensive goods than on capital-intensive goods. In this situation, a Leontief two-factor test would, other things being equal, be _____ the country's adherence to the Heckscher-Ohlin trade pattern, compared with a situation in which trade barriers were absent. Your Answer: Points Received: 1 of 1 Comments: 3. Question: The _____ to testing Heckscher-Ohlin seeks to determine whether a country is a net exporter or net importer of the services of the various factors of production; the expectation is that, if a country has an excess _____ a factor's services, the country will be a net exporter of that factor's services. Your Answer: Points Received: 1 of 1 Comments: 4. Question: Since about 1970, in both developed and developing countries, the ratio of trade to GDP has _____; over the same time period, in the United States and the European Union, the ratio of imports from developing countries to total imports _____. Your Answer:
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Points Received: 1 of 1 Comments: 5. Question: If relatively labor-abundant country A has a Leontief statistic greater than 1.0 and relatively capital-abundant country B has a Leontief statistic less than 1.0, this suggests that Your Answer: Points Received: 1 of 1 Comments: 6. Question:
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This note was uploaded on 04/10/2011 for the course ECON 2001-1 taught by Professor Nickeyturner during the Spring '11 term at Walden University.

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week 3 quiz - Grade Details 1. Question: If the...

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