The 'Leontiff Paradox' is in contradiction of which of the following theory ?
Discovered by Wassily Leontief in 1953, the 'Leontief Paradox' found that the United States—the most capital-abundant nation in the world—exported labor-intensive goods and…
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The 'Leontiff Paradox' is in contradiction of which of the following theory ?
Answer and explanation
Correct answer B
Discovered by Wassily Leontief in 1953, the 'Leontief Paradox' found that the United States—the most capital-abundant nation in the world—exported labor-intensive goods and imported capital-intensive goods, directly contradicting the Heckscher-Ohlin Factor Endowments Theory.
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