Suppose that all goods are made with two factors-labour and capital. The table below shows the total endowments of each factor in the United States and Canada.Based on the information in the table, which of the following statements is FALSE? A) Canada is relatively capital abundant. B) The US is relatively labour abundant. C) The US has more capital and labour than Canada. D) The US is relatively capital abundant.
Suppose that all goods are made with two factors-labour and capital. The table below shows the total endowments of each factor in the United States and Canada.Based on the information in the table, which of the following statements is FALSE? A) Canada is relatively capital abundant. B) The US is relatively labour abundant. C) The US has more capital and labour than Canada. D) The US is relatively capital abundant.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter17: Economic Growth: Resources, Technology, Ideas And Institutions
Section17.2: A Production Function And Economic Growth
Problem 2ST
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Suppose that all goods are made with two factors-labour and capital.
The table below shows the total endowments of each factor in the United States and Canada.Based on the information in the table, which of the following statements is FALSE?
A) Canada is relatively capital abundant.
B) The US is relatively labour abundant.
C) The US has more capital and labour than Canada.
D) The US is relatively capital abundant.
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