One Way in Which the Heckscher-Ohlin Model Differs from the Ricardo

question 45

Multiple Choice

One way in which the Heckscher-Ohlin model differs from the Ricardo model of comparative advantage is by assuming that ________ is (are) identical in all countries.

• A) factor endowments
• B) scale of production
• C) factor intensities
• D) technology
• E) opportunity costs

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Definitions:

Personal Liberties

The fundamental rights and freedoms that individuals possess, which are protected by law from government interference.

Individual Rights

Rights that individuals are entitled to as persons, regardless of their membership in various groups, which may include the right to life, liberty, and the pursuit of happiness.

Declaration of Independence

The document in which the Thirteen Colonies declared themselves independent from British rule in 1776.

Allegiance

Loyalty or commitment of an individual to a group, cause, or nation.