Which of the following is characteristic of the HO model but is not characteristic of the classical model? a.straight line production function b.labor is the only factor of production c.trade triangles must be congruent d.incomplete specialization in production and trade

Which of the following is characteristic of the HO model but is not characteristic of the classical model?

a.straight line production function
b.labor is the only factor of production
c.trade triangles must be congruent
d.incomplete specialization in production and trade

 

 

Answer:

answer D

reason HO model deal with incomplete specialization in production and trade but classical model does not deal with same it works on pure information available.

Asked on February 15, 2018 in economics.
Add Comment
0 Answer(s)
  • Votes
  • Oldest

Your Answer

By posting your answer, you agree to the privacy policy and terms of service.