Leontief's Results Can Be Interpreted as

question 21

Multiple Choice

Leontief's results can be interpreted as

• A)evidence against the classical model.
• B)evidence against the Heckscher-Ohlin model.
• C)support for the classical model.
• D)support for the Heckscher-Ohlin model.

---

Definitions:

Error Term

Represents the component of an observed variable that is not explained by the model used to estimate the variable, capturing the random variability in the data.

Time Trend

A pattern or direction in data that shows movement over a period of time.

Indicator Variable

A variable used in statistical models that takes on the value of 0 or 1 to indicate the absence or presence of some categorical effect or feature.

Smoothing Constant

A parameter used in exponential smoothing methods to adjust the level of smoothing applied to time series data, influencing the weight given to recent versus older observations.