Which of the following characterize the Ricardian Model?
Which of the following characterize the H-O Model?
Which of the following characterize the Specific Factors Model?
letters can be used multiple times...
Homework Answers
Assumption of Ricardian model:
- L
- G
- A
- K
Assumption of H-O model:
- A
- F
Assumption of Specific Factor model:
- Only Labor is perfect mobile across industries
- C
- K
- I
- G
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Which of the following characterize the Ricardian Model?
Which of the following characterize the H-O Model?...
questions. 1. The Ricardian model presumes a single production factor called "labor." Which of the following...
questions. 1. The Ricardian model presumes a single production factor called "labor." Which of the following is correct regarding this production factor? A) labor is perfectly immobile between industries within a country. B) labor is perfectly mobile between industries within a country. C) labor is perfectly mobile between countries. D) labor is perfectly mobile both between industries and between industries. 2. Perfect competition is presumed in the Ricardian model. Therefore: A) au produc's priemst al arginal cost B) any product's...
1. Given the information in Table 1, in a two country and two-product Ricardian model, which...
1. Given the information in Table 1, in a two country and two-product Ricardian model, which of the following statements is (are) true? Table 1 Unit Labour Requirements T-shirt Brandy 4 hours 12 hours 6 hours 12 hours United States France A) The pretrade price ratio in France is 1 brandy - 2 T-shirts. B) The US pretrade price ratio is 1 brandy - 4 T-shirts. C) The US pretrade price ratio is 1 T-shirt = 1/3 brandy. D) The...
study guide help (20) 6) Which of the following statements correctly describes the market structure known...
study guide help
(20) 6) Which of the following statements correctly describes the market structure known as perfect competition? There are many buyers and sellers, none of which is large in relation to total sales or purchases. Each firm produces and sells a homogeneous product. There are no barriers to entry or exit. All of the above None of the above and productive (2 pts) 7) In perfect competition, resource allocative efficiency holds in efficiency holds in both the short-run...
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in f...
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in few sentences 1. (6 points) In the general neoclassical model with perfect competition, constant returns to scale, homothetic preferences. (a) The consumption bundle under autarky may not be affordable under free trade (b)Let p be the price vector under autarky, p be the price vector under trade, and m be the vector of net imports under trade. Thern , (p* -pP)o (c) With 2...
Solow Growth Model Which of the following best describe Steady State? A. output growth accelerates B....
Solow Growth Model Which of the following best describe Steady State? A. output growth accelerates B. investment is balanced by depreciation C. investment exceeds depreciation D. the capital labor ratio increases ° Classical versus Endogenous Growth Models One significant disctinction between the classical and endogenous models is O A. only endogenous models explain perfect competition B. both models use constant returns to scale O O C. classical models utilize constant returns to scale, endogenous models employ increasing returns to scale...
Which of the following rankings is correct for comparing price across the four different market structures?...
Which of the following rankings is correct for comparing price across the four different market structures? Assume costs are identical. Price (perfect competition) > Price (Monopolistic competition) > Price (price competing oligopolist) > Price (monopolist) Price (perfect competition) < Price (Monopolistic competition) < Price (price competing oligopolist) < Price (monopolist) Price (perfect competition) = Price (price competing oligopolist) < Price (price competing oligopolist) < Price (monopolist) Price (perfect competition) = Price (Monopolistic competition) = Price (price competing oligopolist) < Price...
QUESTION 30 A downward-sloping portion of a long-run average total cost curve is the result of:...
QUESTION 30 A downward-sloping portion of a long-run average total cost curve is the result of: economies of scale. diseconomies of scale. diminishing returns. the existence of fixed resources. 2.5 points QUESTION 31 In the long run, firms in many industries often experience a falling average total cost curve as a result of: gains through trade. increasing marginal returns. economies of scale. lower fixed costs. 2.5 points QUESTION 32 A large aircraft manufacturer, like Boeing, may have a...
1. In the case of trade based on external economies of scale, the pattern of trade...
1. In the case of trade based on external economies of scale, the pattern of trade is determined by relative factor abundance. determined by comparative advantage. determined by relative technological differences. determined by history and accident. 2. Dynamic returns to scale refer to average cost falls with current rate of production marginal cost falls with current production average cost falls with cumulative production over time. marginal cost fall with cumulative production over time. 3. In which of the following cases...
My explanation about these requirements are as follow:- Please i need more ideas to support my...
My explanation about these requirements are as follow:- Please i need more ideas to support my work Reflect on the two (02) following topics: 1) The Law of Increasing Returns to a factor of production. 2) The Law of Diminishing Returns to a factor of production. Be explicit and analytical. Also, provide appropriate examples to support your analysis. ANS 1) The Law of Increasing Returns to a factor of production. Be explicit and analytical. Also, provide appropriate examples to support...
1. Which of the following correctly summarizes the strategy used by firms that employ third-degree price...
1. Which of the following correctly summarizes the strategy used by firms that employ third-degree price discrimination? Group of answer choices a.The firm’s marginal revenue will be lower in the market with the more elastic demand. b.The firm sets the price higher in the market with the more elastic demand. c.The firm sets the price lower in the market with the more inelastic demand. d.The firm’s marginal revenue will be higher in the market with the more elastic demand. e.None...
questions. 1. The Ricardian model presumes a single production factor called "labor." Which of the following is correct regarding this production factor? A) labor is perfectly immobile between industries within a country. B) labor is perfectly mobile between industries within a country. C) labor is perfectly mobile between countries. D) labor is perfectly mobile both between industries and between industries. 2. Perfect competition is presumed in the Ricardian model. Therefore: A) au produc's priemst al arginal cost B) any product's...
1. Given the information in Table 1, in a two country and two-product Ricardian model, which of the following statements is (are) true? Table 1 Unit Labour Requirements T-shirt Brandy 4 hours 12 hours 6 hours 12 hours United States France A) The pretrade price ratio in France is 1 brandy - 2 T-shirts. B) The US pretrade price ratio is 1 brandy - 4 T-shirts. C) The US pretrade price ratio is 1 T-shirt = 1/3 brandy. D) The...
study guide help
(20) 6) Which of the following statements correctly describes the market structure known as perfect competition? There are many buyers and sellers, none of which is large in relation to total sales or purchases. Each firm produces and sells a homogeneous product. There are no barriers to entry or exit. All of the above None of the above and productive (2 pts) 7) In perfect competition, resource allocative efficiency holds in efficiency holds in both the short-run...
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in few sentences 1. (6 points) In the general neoclassical model with perfect competition, constant returns to scale, homothetic preferences. (a) The consumption bundle under autarky may not be affordable under free trade (b)Let p be the price vector under autarky, p be the price vector under trade, and m be the vector of net imports under trade. Thern , (p* -pP)o (c) With 2...
Solow Growth Model Which of the following best describe Steady State? A. output growth accelerates B. investment is balanced by depreciation C. investment exceeds depreciation D. the capital labor ratio increases ° Classical versus Endogenous Growth Models One significant disctinction between the classical and endogenous models is O A. only endogenous models explain perfect competition B. both models use constant returns to scale O O C. classical models utilize constant returns to scale, endogenous models employ increasing returns to scale...
Which of the following rankings is correct for comparing price across the four different market structures? Assume costs are identical. Price (perfect competition) > Price (Monopolistic competition) > Price (price competing oligopolist) > Price (monopolist) Price (perfect competition) < Price (Monopolistic competition) < Price (price competing oligopolist) < Price (monopolist) Price (perfect competition) = Price (price competing oligopolist) < Price (price competing oligopolist) < Price (monopolist) Price (perfect competition) = Price (Monopolistic competition) = Price (price competing oligopolist) < Price...
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