Assume That Home Is Relatively Abundant in Labor and Relatively

question 121

Multiple Choice

Assume that Home is relatively abundant in labor and relatively scarce in land. The Heckscher-Ohlin model predicts that trade with other countries will cause increased returns to:

• A) Home's laborers.
• B) Home's landowners.
• C) neither Home's laborers nor landowners.
• D) both Home's laborers and landowners.

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Definitions:

Process Redesign

A method of improving business processes by analyzing and reengineering them for enhanced efficiency, effectiveness, and flexibility.

Dramatic Improvements

Significant positive changes or enhancements, often surpassing expectations.

Fundamental Rethinking

A profound reassessment of organizational processes and strategies to achieve dramatic improvements in performance.

Flexible Manufacturing System

An automated production system that can be quickly adapted to manufacture different products.