In his empirical tests, Wassily Leontief used an input-output table to ?
Correct answer: A. calculate the capital and labor required to produce $1 million of U.S exports and imports
- A. calculate the capital and labor required to produce $1 million of U.S exports and imports
- B. calculate the labor productivity of America workers relative to foreign workers
- C. calculate the capital productivity of American capital relative to foreign capital
- D. All of the above
Explanation
Leontief's input-output analysis estimated the quantities of capital and labor embodied in a fixed value of U.S. exports and imports. Comparing these factor requirements tested whether U.S. trade matched its presumed capital abundance.
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