题目内容
The factor-endowment theory asserts that with specialization and trade there tends to occur and equalization in the relative resource prices of trading partners.
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According to the factor-endowment theory, international specialization and trade cause a nation's cheap resource to become cheaper and a nation's expensive resource to become more expensive.
Fears about the downward pressure that cheap foreign workers place on U.S. wages have led U.S. labor unions to lobby for import restrictions such as tariffs and quotas.
According to the factor-price-equalization theory, international trade results in the relative differences in resource prices between trading nations being eliminated.
Empirical testing by Wassily Leontief gave support to the Heckscher-Ohlin theory of trade.
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