If Economists Wish to Determine Relative Factor Abundance Across Countries

question 12

Short Answer

If economists wish to determine relative factor abundance across countries, why don't they simply calculate w/r ratios across countries and then compare these ratios?

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Definitions:

Genetic Bottleneck

An event in which a significant percentage of a population or species is killed or otherwise prevented from reproducing, leading to a decrease in genetic diversity.

Founder Effect

A form of genetic drift that occurs when a new population is established by a very small number of individuals from a larger population, leading to reduced genetic variation.

Genetic Drift

A mechanism of evolution that causes changes in allele frequencies in a population due to random sampling effects, particularly in small populations.

Bureaucracy

A rational and efficient form of organisation founded on logic, order and legitimate authority.