The Heckscher-Ohlin Theory Suggests That Research and Development Activity Is

question 47

Multiple Choice

The Heckscher-Ohlin theory suggests that research and development activity is most likely to be concentrated in countries which:

• A)are capital-abundant.
• B)are skilled-labor-abundant.
• C)specialize in the production of primary commodities.
• D)are more self-reliant.

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Definitions:

Drug Interdiction

The policy or practice of preventing the importation, trafficking, and use of illegal drugs by enforcement or military means.

Supply Curve

A visual chart illustrating the connection between a product's price and the amount of the product that sellers are ready to manufacture and offer for sale.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, indicative of the flexibility of producers.

Midpoint Method

A technique used in economics to calculate the elasticity between two points on a demand curve by using their average.