Business, 08.03.2021 19:30 Jcausey4477

The factor-endowment theory predicts that because the United States is relatively abundant in capital and relatively scarce in labor, it will export capital-intensive goods, and its import-competing goods will be labor intensive. In the 1950s, Wassily Leontief, a Russian-American economist, tested this proposition by analyzing the capital/labor ratios of export industries and import-competing industries, using U. S. data. He found that the capital/labor ratio for U. S. export industries was lower than that of the United Statesâ import-competing industries, which means that U. S. exports were less capital intensive than import-competing goods. These findings appeared to contradict the predictions of the factor-endowment theory and became known as the Leontief paradox. Replicate Leontief's test using the date shown in the following table. Compute the ratio for exports and imports, and enter each value in the last column of the table.

Used to produce $1 Million Worth ofâ¦ Capital (Dollars) Labor(Person-years) Capital/ Labor Ratio (Dollars per person- year)
Exports 1,800,000 80
Imports 3,000,000 100

The numbers in the previous table show that US. exports are and U. S. imports are

What do the results of your test illustrate? Check all that apply.

a. The Leontief paradox
b. The Heckschner-Ohlin theory

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 22:50

The following data pertains to activity and costs for two months: june july activity level in 10,000 12,000 direct materials $16,000 $ ? fixed factory rent 12,000 ? manufacturing overhead 10,000 ? total cost $38,000 $42,900 assuming that these activity levels are within the relevant range, the manufacturing overhead for july was: a) $10,000 b) $11,700 c) $19,000 d) $9,300

Answers: 2

Answer

Business, 22.06.2019 00:00

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the divisionâ€™s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chanceâ€™s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Answers: 2

Answer

Business, 22.06.2019 01:30

Side bar toggle icon performance in last 10 qs hard easy performance in last 10 questions - there are '3' correct answers, '3' wrong answers, '0' skipped answers, '1' partially correct answers about this question question difficulty difficulty 60% 42.2% students got it correct study this topic • demonstrate an understanding of sampling distributions question number q 3.8: choose the correct estimate for the standard error using the 95% rule.

Answers: 2

Answer

Business, 22.06.2019 09:30

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $385,000; cash paid for rent, $49,000; cash paid to employees for services rendered during the year, $129,000; cash paid for utilities, $59,000. in addition, you determine that customers owed the company $69,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,900 at year-end, and the rent payment was for a two-year period.

Answers: 1

Answer

You know the right answer?

The factor-endowment theory predicts that because the United States is relatively abundant in capita...

Questions