(Table: Factor Use in Latvian Trade) According to the Heckscher-Ohlin

question 28

Multiple Choice

(Table: Factor Use in Latvian Trade) According to the Heckscher-Ohlin model, Latvia's capital-labor ratios are consistent with:

• A) Latvia being a capital-abundant country.
• B) Latvia being a labor-abundant country.
• C) Latvia being neither a capital- nor labor-abundant country.
• D) Latvia being both a labor- and capital-abundant country.

---

Definitions:

Industrial Revolution

marks the period of major industrialization that took place during the late 1700s and early 1800s, significantly transforming economies and societies through the adoption of new manufacturing processes and technologies.

American Workers

Refers to individuals in the United States engaged in various forms of employment, contributing to the country's labor force and economy.

German Laborers

Refers to workers or employees in Germany, particularly those involved in various sectors such as manufacturing, services, and construction.

Age of Mass Consumption

A stage of economic development characterized by high levels of production and consumption of mass-produced goods, reflecting a society's advancement and wealth.