r1 / w1 < r2 / w2 means – McqOptions

MCQOPTIONS

1.	r1 / w1 < r2 / w2 means
A.	Nation 1 is capital abundant
B.	Nation 1 is labor abundant
C.	Nation 2 is capital abundant
D.	Nation 2 has high wages
Answer» B. Nation 1 is labor abundant

Discussion

No Comment Found

Related MCQs

Ricardian theory has _ countries and commodities
No change in technology, no transport cost, constant returns to scale - these assumptions make the Comparative Cost advantage theory __
An Indian farmer produces wheat without incurring cost of inputs alllsells for Rs. 1,000 to a miller who grinds wheat into flour and sells for Rs 1,200 to baker. Thebaker sells bread to consumers for Rs. 1,600. Total added is Rs.
Piyush s mother is a teacher. She also teaches Piyush. How would you treat this white calculating national income and domestic income ?
Restrictions imposed on the quantity of imports is _ .
Expenditure switching policy is also known as _ _ .
In BOP, total receipts must be equal to total _ .
The current account in the balance of payments _ .
The objective of commercial policy is / are _ .
Look East Policy has now transformed into a _ _.