If We Measure Scarcity or Abundance Correctly, We Should

question 103

Multiple Choice

If we measure scarcity or abundance correctly, we should
Use the concept of "effective factor endowment." This
Means:

• A)the actual factor endowment multiplied by the average productivity of workers compared with its share of world
• GDP.
• B)trying to find out how much labor and capital are really involved in producing goods competing with imports and
• Exports.
• C)measuring more effectively a nation's actual factor endowment.
• D)the actual factor endowment of labor multiplied by the productivity of capital, because, effectively, the productivity
• Of one depends on the quantity of the other.

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