Which one of the following International Trade theories, the ‘Leontief paradox’ pertains to
The Leontief Paradox (discovered by Wassily Leontief in 1953) empirically tested the Heckscher-Ohlin (Factor Proportions) Theory and paradoxically found that the…
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Which one of the following International Trade theories, the ‘Leontief paradox’ pertains to
Answer and explanation
Correct answer C
The Leontief Paradox (discovered by Wassily Leontief in 1953) empirically tested the Heckscher-Ohlin (Factor Proportions) Theory and paradoxically found that the capital-abundant United States exported labour-intensive commodities and imported capital-intensive commodities.
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