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Suppose Nigeria has 20 million workers and 16 million units of capital, while Botswana has 5 million workers and 3.5 million units of capital. Which of the following statements is true with respect to the Heckscher-Ohlin theory?
a. Nigeria is labor abundant and Botswana is capital abundant.
b. Nigeria is both labor and capital abundant.
c. Nigeria is capital abundant and Botswana is labor abundant.
d. Botswana is both labor and capital abundant
The Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price
A budget deficit is defined as: A. accumulated surpluses minus accumulated deficits. B. a shortfall of revenues compared to expenditures. C. accumulated deficits minus accumulated
Explain about Economys growth rate Economy's growth rate: Long-term economic growth, or tendency growth, is the rate of growth the economy can sustain, ignoring the short-term
what is the relationship betwen growth and poverty? either it is positive or negative?
The city of Johnstown decides to build a new stadium to attract a basketball team from the city of Rosendale. One economic advisor suggests that the stadium should be fi
Index number formulas
Q. Construction of real gross domestic product ? To be able to make reasonable comparisons of GDP over time, we should adjust for inflation. For instance, if prices are doubled
The yeild of Maize is 73429 Hg/Ha, I need to translate it into bu/a, and I konw use 56lbs/bu as test weight. Please leave the process so that I know how to do it, thankyou.
In the long-run framework, deficits reduce: A. investment. B. taxes. C. government consumption. D. subsidies.
#If the reserve bank wants to pursue a contractionary monetary policy, the bank should?
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