Empirical Support for the Heckscher-Ohlin Model Was Weakest When the Study

question 52

Multiple Choice

Empirical support for the Heckscher-Ohlin model was weakest when the study applied

• A) all of the assumptions of the model.
• B) all of the assumptions of the model except that regarding technology.
• C) all of the assumptions of the model except those regarding technology, goods and shipping costs.
• D) all of the assumptions of the model except those regarding technology, shipping costs and gravity.
• E) all of the assumptions of the model except those regarding shipping costs.

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Definitions:

Numerical Probability

A quantifiable measure that expresses the likelihood of occurrence of an event, presented as a number between 0 and 1.

Gross Earnings

Gross Earnings are the total amount earned by an individual or entity before any deductions such as taxes, benefits, and other payroll deductions.

Total Compensation

The complete package of salary, benefits, bonuses, and any other financial rewards provided to an employee.

Contingent Liability

Contingent liability is a potential financial obligation that may arise in the future, dependent on the outcome of a specific event.