Assume the production of chocolate is capital-intensive and the production of fruit is labor-intensive. Albania is labor- abundant, while Germany is capital-abundant. According to the Heckscher-Ohlin theory of trade: Albania has the comparative advantage in chocolate Germany has the comparative advantage in chocolate Albania will import fruit Germany will import chocolate

Assume the production of chocolate is capital-intensive and the production of fruit is labor-intensive. Albania is labor- abundant, while Germany is capital-abundant. According to the Heckscher-Ohlin theory of trade: Albania has the comparative advantage in chocolate Germany has the comparative advantage in chocolate Albania will import fruit Germany will import chocolate

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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