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4. Resolution of the Leontief paradox The factor-endowment theory predicts that because the United States is relatively abundant in capital and relatively scarce in labor, it will export capital-intensive goods, and its import-competing goods will be labor intensive. in the 19505, Wassily Leontief, a Russian-American economist, tested this proposition by analyzing the capital/labor ratios of export industries and import-competing industries, using U.5. data. He found that the capital/labor ratio for U.S. export industries was lower than that of the United States' import-competing industries, which means that U.S. exports were less capital intensive than import-competing goods. These ndings appeared to contradict the predictions of the factor-endowment theory and became known as the Leontief paradox. Replicate Leontief's test using the data shown in the following table. Compute the capltal/labor ratio for exports and imports, and enter each value ln the last column of the table. Capital Labor Capital] Labor Ratio Used to Produce $1 Million Worth of . . . (Dollars) (Person-years) (Dollars per person-year) Exports 1,600,000 80 Imports 1,500,000 100 The numbers in the previous table show that U.S. exports are v , and U.S. imports are 7 . labor intensive What do the results of your test illustrate? Check all that app! neither labor nor capital intensive D The HeckscherOhlin theory both labor and capital intensive D The Leontief paradox capital intensive Which of the following explanations resolve the Leontief paradox? Check all that apply. D Leontief's test focused on labor and capital only. ignoring other factors of production. 0 Leontief did not distinguish between skilled and unskilled labor. D Leontief wrongly assumed that the United States was abundant in labor. 0 The HeckscherOhlin model includes only two goods, while U.S. exports and imports include many goods