What was the leontief paradox

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Reference no: EM132178030

Question: 1. What was the "Leontief paradox," and why was it a paradox?

2. What do you think is the major defect in the Leontief test that might have caused the paradox to occur? Why?

3. How might the existence of factor-intensity reversals be a reason for the Leontief paradox? How might the existence of demand reversal?

4. If you have traveled in a foreign country, would your observations confirm the view that the country's demand patterns reflect consumer preferences in that country for goods produced with the country's relatively abundant factor of production?

Reference no: EM132178030

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