Contrast the theories of absolute and comparative advantage

Reference no: EM131327703

1. Compare and contrast the theories of absolute and comparative advantage.

2. How does the Heckscher-Ohlin (HO) theory build on the earlier work of absolute and comparative advantage?

3. The Leontief Paradox finds opposite trading patterns for the US to those predicted by the HO theory. How can you resolve this paradox?

Reference no: EM131327703

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