Search results
Results from the WOW.Com Content Network
In economics, the Leontief's paradox is that a country with a higher capital per worker has a lower capital/labor ratio in exports than in imports.. This econometric finding was the result of Wassily W. Leontief's attempt to test the Heckscher–Ohlin theory ("H–O theory") empirically.
the labor-abundant country will export the labor-intensive good. The Leontief paradox , presented by Wassily Leontief in 1951, [ 1 ] found that the U.S. (the most capital-abundant country in the world by any criterion) exported labor-intensive commodities and imported capital-intensive commodities, in apparent contradiction with the Heckscher ...
Includes only visible imports and exports, i.e. imports and exports of merchandise. The difference between exports and imports is called the balance of trade. If imports are greater than exports, it is sometimes called an unfavourable balance of trade. If exports exceed imports, it is sometimes called a favourable balance of trade.
The Import-Export Clause was adopted by the Constitutional Convention a few days after adopting the Export Clause, which prohibits the federal government from imposing taxes or duties on exports. The adoption of the Import-Export Clause received considerable debate, more so than the Export Clause or the Commerce Clause .
The expression terms of trade was first coined by the US American economist Frank William Taussig in his 1927 book International Trade.However, an earlier version of the concept can be traced back to the English economist Robert Torrens and his book The Budget: On Commercial and Colonial Policy, published in 1844, as well as to John Stuart Mill's essay Of the Laws of Interchange between ...
With exports outpacing imports, China’s trade surplus rose to $97.4 billion. The report came a day after Beijing pledged to loosen monetary policy and provide more support for the world’s No ...
Trade openness in 2017 [1]. The trade-to-GDP ratio is an indicator of the relative importance of international trade in the economy of a country. It is calculated by dividing the aggregate value of imports and exports over a period by the gross domestic product for the same period.
You can find instant answers on our AOL Mail help page. Should you need additional assistance we have experts available around the clock at 800-730-2563.