Telegram group: T.me/BBCNOUN ====== ECO344 ====== 1. After ---- the wages-fund theory was discredited by W.T. Thornton, F.D. Longe, and Francis A. Walker 1864 --->> 1865 1866 1867 2. Economist ------ thought that wages were determined in the marketplace through the law of supply and demand David Ricardo Alfred Marshall --->> Adam Smith Paul Samuelson 3. The ------ theory is very attractive to labour organizations --->> bargaining residual-claimant substitence none of the above 4. A simple Ricardian model with linear production frontiers has the property that a country's --- price ratio is given by the slope of its production frontier --->> autarky input output factor 5. The ---- theory holds that, after all other factors of production have received compensation for their contribution to the process, the amount of capital left over will go to the remaining factor bargaining --->> residual-claimant substitence none of the above 6. The factor-content theorem is often called the ------ Stolper–Samuelson --->> Heckscher-Ohlin-Vanek Heckscher–Ohlin theorem Smithian 7. We define ------ specifically in terms of the ratios between capital stocks and labor forces in the two countries product function input allocation resource allocation --->> factor endowments 8. The ----- describes the relationship between relative prices of output and relative factor rewards specifically, real wages and real returns to capital --->> Stolper–Samuelson Heckscher–Ohlin theorem Ricardian Smithian 9. In the Heckscher-Ohlin model, comparative advantage and trade are determined by ----- differences in factor endowments regional cognitial --->> national international 10. According to Ricardo an increase in ----- would result in an increase in the demand for labour output input cost --->> capital