Final answer:
The statement is false; the Factor Endowment Theory was developed by Heckscher and Ohlin, not Raymond Vernon. Enlightenment thinkers rejected mercantilist ideas, advocating that wealth could be created, not just accumulated.
Step-by-step explanation:
False. The Factor Endowment Theory was actually developed by Eli Heckscher and Bertil Ohlin, not Raymond Vernon. This theory, commonly known as the Heckscher-Ohlin model, explains countries' comparative advantages by their respective factor endowments, such as labor, land, and capital. Raymond Vernon is known for the product life cycle theory, which describes the stages a product goes through from development to decline.
In relation to the statement provided, Enlightenment thinkers did indeed reject the mercantilist idea that wealth is finite. They proposed that wealth could be created through trade, innovation, and improved production methods, which is an argument contrary to mercantilist belief that advocated for accumulating wealth through trade surpluses.