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The factor endowment theory was pioneered by ?

September 11, 2021May 30, 2019 by admin

The factor endowment theory was pioneered by ?

A. Adam smith
B. David Ricardo
C. Wassily Leontief
D. Eli Heckscher and Bertil Ohlin

Categories Economics Mcqs, Sources of Comparative Advantage

Wassily Leontief’s results can be interpreted as ?

Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. 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 ?

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