Chapter 3 IE

 0    22 schede    jakubgrzesiak
Scarica mp3 Stampa Gioca Testa il tuo livello
 
Domanda English Risposta English
capital/labor ratio
inizia ad imparare
a country’s ratio of capital inputs to labor inputs
distribution of income
inizia ad imparare
the distribution of wages earned across a country
dynamic comparative advantage
inizia ad imparare
a changing pattern in comparative advantage; governments can establish policies to promote opportunities for changes in comparative advantage over time
economies of scale
inizia ad imparare
economies of scale in inglese
when increasing all inputs by the same proportion results in a greater proportion of total output
factor-endowment theory
inizia ad imparare
asserts that a country exports those goods that use its abundant factor more intensively
factor-price equalization
inizia ad imparare
free trade’s tendency to cause cheap factors of production to become more expensive, and the expensive factors of production to become cheaper
Heckscher-Ohlin theory
inizia ad imparare
Heckscher-Ohlin theory differences in relative factor endowments among nations underlie the basis for trade
home market effect
inizia ad imparare
home market effect
increasing returns to scale
inizia ad imparare
when increasing all inputs by the same proportion results in a total output to increase by a greater proportion
industrial policy
inizia ad imparare
government policy that is actively involved in creating comparative advantage
interindustry specialization
inizia ad imparare
when each nation specializes in a particular industry in which it enjoys a comparative advantage
interindustry trade
inizia ad imparare
the exchange between nations of products of different industries
intraindustry specialization
inizia ad imparare
the focusing on the production of particular products or groups of products within a given industry
intraindustry trade
inizia ad imparare
intraindustry trade two-way trade in a similar commodity
Leontief paradox
inizia ad imparare
the phenomenon of exports being less capital intensive than import-competing goods
magnification effect
inizia ad imparare
an extension of the Stolper-Samuelson theorem, which suggests that the change in the price of a resource is greater than the change in the price of the good that uses the resource relatively intensively in its production process
product life cycle theory
inizia ad imparare
many manufactured goods undergo a predictable trade cycle; during this cycle, the home country initially is an exporter, then loses its competitive advantage vis-à-vis its trading partners, and eventually may become an importer of the commodity
specific factors
inizia ad imparare
specific factors factors that cannot move easily from one industry to another
specific-factors theory
inizia ad imparare
considers the income-distribution effects of trade when factor inputs are immobile among industries in the short run
Stolper-Samuelson theorem
inizia ad imparare
an extension of the theory of factor-price equalization, which states that the export of the product that embodies large amounts of the relatively cheap, abundant resource makes this resource more scarce in the domestic market
theory of overlapping demands
inizia ad imparare
nations with similar per capita incomes will have overlapping demand structures and will likely consume similar types of manufactured goods
transportation costs
inizia ad imparare
the costs of moving goods from one nation to another

Devi essere accedere per pubblicare un commento.