In His Empirical Test of Heckscher and Ohlin's Model,Leontief Found

question 48

Multiple Choice

In his empirical test of Heckscher and Ohlin's model,Leontief found that

• A)the US imported more labor intensive goods and exported more capital intensive goods.
• B)the US imported more capital intensive goods and exported more labor intensive goods.
• C)the US imported and exported more labor intensive goods.
• D)the US imported and exported more capital intensive goods.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the account ledger but have not yet been cashed or cleared by the bank.

Adjusted Balance

The method of calculating finance charges on a credit account by subtracting payments or credits received during the billing cycle from the balance at the end of the billing cycle.

Check Register

A record-keeping tool used to track checks written, deposits made, and the current balance of a checking account.

Bank Statement

A document issued by a bank that summarizes a customer's financial transactions and balance over a specific period.