Question:

A situation where one commodity is capital intensive in one country and labourintensive in another country is called

A.

opportunity cost

B.

factor price equalization

C.

leontiff paradox

D.

faction intensity reversal

Answer» d. faction intensity reversal

Question:

The analysis method used in Leontief’s study

A.

factor price equalization theorem

B.

double entry book keeping system

C.

input – output analysis

D.

none of the above

Answer» c. input – output analysis

Question:

Factor endowment theory is also known as

A.

heckcher ohlin theory

B.

limit pricing theory

C.

labour theory of value

D.

opportunity cost theory

Answer» a. heckcher ohlin theory

Question:

Product transformation curve is also called

A.

production indifference curves

B.

production possibility frontier

C.

isoquants

D.

all the above

Answer» b. production possibility frontier

Question:

Who reoriented comparative advantage theory?

A.

adam smith

B.

j m keynes

C.

haberler

D.

karl marx

Answer» c. haberler

Question:

Haberler reconstituted comparative advantage theory on the basis of ____

A.

opportunity cost theory

B.

labour theory of value

C.

money

D.

non of the above

Answer» a. opportunity cost theory

Question:

India is NOT a _____ abundant nation

A.

labour

B.

capital

C.

human capital

D.

natural resources

Answer» b. capital

Question:

SDR is the official currency of

A.

imf

B.

world bank

C.

un

D.

non of the above

Answer» a. imf

Question:

According to Rybczyski theorem commodity price should be

A.

constant

B.

increasing

C.

decreasing

D.

either increasing or decreasing

Answer» a. constant

Question:

According to HO Model, India should import ______ abundant goods

A.

labour

B.

capital

C.

human capital

D.

natural resources

Answer» a. labour