What standard model of international free trade is Ohlin associated with?
Keynesian Model
Marshall-Lerner Model
Heckscher–Ohlin model
Balassa-Samuelson Effect
Answer
The Heckscher–Ohlin model is a standard model of international free trade, based on Theory of comparative advantage, developed by Eli Heckscher and Bertil Ohlin in 1933. It states that a country's comparative advantage in a particular good is determined by the relative abundance of factors of production used in the production of that good.
The Ohlin Odyssey: An Engaging English Quiz on the Life and Contributions of Bertil Ohlin
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