For what contribution was Bertil awarded Nobel Prize in Economics?
Theory of Microeconomics
Theory of International Trade and International Capital Movements
Theory of Macroeconomics
Theory of Behavioral Economics
Answer
Bertil Ohlin received the Nobel Prize in Economics in 1977 for his contribution to Theory of international trade and international capital movements. His work showed that the pattern of trade between countries is determined by the relative abundance of factors of production, such as labor and capital, in each country. This theory has been used to explain the growth of trade between developed and developing countries.
The Ohlin Odyssey: An Engaging English Quiz on the Life and Contributions of Bertil Ohlin
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