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egoroff_w [7]
3 years ago
9

The Heckscher-Ohlin model assumes that there are two countries, each of which produces two goods (say manufactures and agricultu

re) using labor and capital. Which of the following is an additional assumption of the Heckscher-Ohlin model?A. One nation has larger quantities of both capital and labor than the other country.B. Labor and capital can move between countries.C. Capital is a specific resource in producing manufactured goods, and labor is a specific resource in producing agricultural goods in each country.D. The ratio of the quantity of labor to the quantity of capital is different for each nation, resulting in different relative endowments of capital and labor.
Business
1 answer:
Murrr4er [49]3 years ago
6 0

Answer:

D. The ratio of the quantity of labor to the quantity of capital is different for each nation, resulting in different relative endowments of capital and labor.

Explanation:

The Heckscher-Ohlin (H-O) model is an international economic theory which states that each country should produce and export what it is most efficient in.

The theory is also referred to as 2x2x2 model because it is employed to assess trade and trade equilibrium between two countries that have different areas of specializations and natural resources.  By implication, the emphasis of the model is that a country should produce and export goods which it has its factors in abundance to produce. A country should produce and export good in which it a relative factor endowment and therefore import goods in which it does not have relative factor abundance.

Assuming there are two factor of production, capital and labor, country X has a relative factor endowment or abundance in labor if the ratio of its quantity of labor to the quantity of capital is higher than that of country Y. Also, country Y also has a relative factor endowment or abundance in capital if its ratio of the quantity of capital to the quantity of labor is higher than that of country X. Therefore, country X should produce a product that uses labor intensively while country Y should produce good that uses capital intensively.

Therefore, an additional assumption of the Heckscher-Ohlin model in the question is option D. The ratio of the quantity of labor to the quantity of capital is different for each nation, resulting in different relative endowments of capital and labor.

I wish you the best.

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hen a monopolist is able to sell its product at different prices, it is engaging in a. distribution pricing. b. quality-adjusted
sertanlavr [38]

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Price discrimination

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6 0
3 years ago
byu 220 in gibbons v. ogden, the supreme court ruled that rail companies could not purchase farmland without the consent of farm
sukhopar [10]

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8 0
2 years ago
If the actual labor rate exceeds the standard labor rate and the actual labor hours exceed the number of hours allowed, the labo
vladimir2022 [97]

Answer:

Option D

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As both, the actual rate and actual hours exceed the standards rate and standard hours, both rate and efficiency variance will be unfavorable.

And considering that if the actual labor rate exceeds the standard labor rate and if the actual labor-hours exceed the number of hours allowed, the total labor flexible budget variance will be unfavorable. As the variance is the difference between the Standard Cost and Actual Cost. So if both Standard rate & Standard hrs. are more than actual rate & actual hrs., Actual cost will be more than standard cost i.e. the variance will be unfavorable

Option d is correct

8 0
3 years ago
Consider a mutual fund with $219 million in assets at the start of the year and with 12 million shares outstanding. The fund inv
Ghella [55]

Answer:

Missing word <em>"What is the Rate of return"</em>

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Asset at the end of the year = ($219 million+ ($219 million * 7%)) * (1-0.50%)

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Rate of return = 9.20%

5 0
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