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74CHAPTER3SOURCESOFCOMPARATIVEADVANTAGEMULTIPLE-CHOICEQUESTIONS1.Whichofthefollowingsuggeststhatanationwillexportthecommodityintheproductionofwhichagreatdealofitsrelativelyabundantandcheapfactorisused?a.TheLindertheoryb.Theproductlifecycletheoryc.TheMacDougalltheoryd.TheHeckscher-Ohlintheory2.AccordingtoStaffanLinder,tradebetweentwocountriestendstobemostpronouncedwhenthecountries:a.Findtheirtastesandpreferencestobequiteharmoniousb.Experienceeconomiesoflarge-scaleproductionoverlargeoutputlevelsc.Facedissimilarrelativeabundancesofthefactorsofproductiond.Findtheirper-capitaincomelevelstobeapproximatelythesame3.Whichofthefollowingisalong-runtheory,emphasizingchangesinthetradingpositionofanationoveranumberofyears?a.Theoryoffactorendowmentsb.Comparativeadvantagetheoryc.Theoryoftheproductcycled.Overlappingdemandtheory4.TheLeontiefparadoxquestionedthevalidityofthetheoryof:a.Comparativeadvantageb.Factorendowmentsc.Overlappingdemandsd.Absoluteadvantage5.Whichofthefollowingwouldleastlikelyapplytotheproductlifecycletheory?a.Calculatorsandcomputersb.Coalandcrudeoilc.Homemoviecamerasd.Officemachinery6.Classicaltradetheoryemphasizedwhichofthefollowingasanunderlyingexplanationofthebasisfortrade?a.Productivitiesoflaborinputsb.Tastesandpreferencesamongnationsc.Changesintechnologiesovertimed.QuantitiesofeconomicresourcesChapter3—TestBank757.Concerningtheinfluencethattransportationcostshaveonthelocationofindustry,whichofthefollowingindustrieshasgenerallyattemptedtolocateproductionfacilitiesclosetoresourcesupplies?a.Autosb.Steelc.Softdrinksd.Valuableelectronicsgoods8.AssumethatCountryA,intheabsenceoftrade,findsitselfrelativelyabundantinlaborandrelativelyscarceinland.Thefactorendowmenttheoryreasonsthatwithfreetrade,theinternaldistributionofnationalincomeinCountryAwillchangeinfavorof:a.Laborb.Landc.Bothlaborandlandd.Neitherlabornorland9.Whenconsideringtheeffectsoftransportationcosts,theconclusionsofourtrademodelmustbemodified.Thisisbecausetransportationcostsresultin:a.Lowertradevolume,higherimportprices,smallergainsfromtradeb.Lowertradevolume,lowerimportprices,smallergainsfromtradec.Highertradevolume,higherimportprices,smallergainsfromtraded.Highertradevolume,lowerimportprices,greatergainsfromtrade10.MosteconomistsmaintainthatthemajorfactorunderlyingwagestagnationintheUnitedStatesinthe1990shasbeen:a.Importcompetitionb.Technologicalchangec.Risingrealvalueoftheminimumwaged.Increasingunionmembership11.AssumethecostoftransportingautosfromJapantoCanadaexceedsthepretradepricedifferenceforautosbetweenJapanandCanada.Tradeinautosis:a.Impossibleb.Possiblec.Highlyprofitabled.Moderatelyprofitable12.EliHeckscherandBertilOhlinareassociatedwiththetheoryofcomparativeadvantagethatstressesdifferencesin:a.Incomelevelsamongcountriesb.Tastesandpreferencesamongcountriesc.Resourceendowmentsamongcountriesd.Laborproductivitiesamongcountries13.HongKongisrelativelyabundantinlabor,whileCanadaisrelativelyabundantincapital.Inbothcountriestheproductionofshirtsisrelativelymorelaborintensivethantheproductionofcomputers.Accordingtothefactorendowmenttheory,HongKongwillhavea(n):a.Absoluteadvantageintheproductionofshirtsandcomputersb.Absoluteadvantageintheproductionofcomputersc.Comparativeadvantageintheproductionofshirtsd.Comparativeadvantageintheproductionofcomputers76Chapter3—TestBank14.IfJapaneseworkersreceivelowerwagesintheproductionofautosthandoAmericanworkers:a.Japanwillhaveacomparativeadvantageintheproductionofautosb.Japanwillhaveanabsoluteadvantageintheproductionofautosc.ProductioncostswillbelowerinJapanthanintheU.S.d.ProductioncostscouldbelowerintheU.S.ifAmericanlaborproductivityishigherthantheJapanese15.Whichtradetheorysuggeststhatanewlyproducedgood,onceexported,couldultimatelyendupbeingimportedasthetechnologyistransferredtolower-costnations?a.Factorendowmenttheoryb.Productlifecycletheoryc.Overlappingdemandtheoryd.Comparativeadvantagetheory16.Afirmissaidtoenjoyeconomiesofscaleovertherangeofoutputforwhichthelong-runaveragecostis:a.Increasingb.Constantc.Decreasingd.Noneoftheabove17.Aproductwillbeinternationallytradedaslongasthepretradepricedifferentialbetweenthetradingpartnersis:a.Greaterthanthecostoftransportingitbetweenthemb.Equaltothecostoftransportingitbetweenthemc.Lessthanthecostoftransportingitbetweenthemd.Noneoftheabove18.Whichofthefollowingsuggeststhatbywideningthemarket’ssize,internationaltradecanpermitlongerproductionrunsformanufacturers,whichleadstoincreasingefficiency?a.Economiesofscaleb.Diseconomiesofscalec.Comparativecosttheoryd.Absolutecosttheory19.TheLeontiefparadox:a.Wasappliedtotheproductlifecycletheoryb.SuggestedthattheU.S.exportslabor-intensivegoodsc.Foundthatnationalincomedifferencesunderlieworldtradepatternsd.Impliedthatdiseconomiesofscaleoccuratlowoutputlevels20.Whichofthefollowingbestappliestothetheoryofoverlappingdemands?a.Manufacturedgoodsb.Servicesc.Primaryproductsd.NoneoftheaboveChapter3—TestBank7721.TheHeckscher-Ohlintheoryexplainscomparativeadvantageastheresultofdifferencesincountries’:a.Economiesoflarge-scaleproductionb.Relativ