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1. What happened to the Leontief paradox when human capital embodied in U.S. exports was accounted for as a separate factor of production? Does this help to explain why college graduates might favor international trade more than those with significantly less education and training? Is your answer to the second question consistent with the predictions of the Stopler-Samuelson theorem?
2. Refer to question #3. Mr. Smith lives in the U.S. and argues that foreign trade does not work. Is it more likely that Mr. Smith is employed in industry X or industry Y?
3. Assuming strictly enforced borders, no illegal immigration, and free trade between the U.S. and Mexico, how does the factor price equalization theorem work? Would the results be different if there were absolutely no trade, but labor and capital were allowed to move freely between the U.S. and Mexico?
4. Assume that the U.S. is relatively K (capital) abundant and L (labor) scarce relative to Mexico. In terms of the Rybczynski theorem, what would have to happen between the U.S. and Mexico in order to reduce the U.S.'s comparative advantage and global competitiveness in exporting K intensive goods?
A Spanish can either produce 3 liters of win or 1 kilos of cheese. A Portuguese worker can either produce 4 litres of win or 12 kilos of cheese 1) Which countries have absolute advantages in which goods? Explain 2) Which countries have comparative ad..
Elucidate briefly in what way the HOV, or factor content theorem, extends the standard HO model.
bank prime loan rate imports of goods amp per capita income.briefly explain why the three variables are appropriate
q.calculate the income elasticity of demand for product x when i 30. explain how could we categorize product x? do you
Use Porter’s five forces model to analyze the competitive environment of a country of your choice (pick a product category that you are familiar with). How does a market orientation explain entry into that market? A resource-based view? Why are both ..
Given below is information on all of the entries in Balance of Payments of a hypothetical developing country: What is the value of current account balance? What is the value of capital account balance? What is the value of cash reserve account?
Consider the market for electronics. Patents are granted to investors of a product or process for a certain number of years. The reason for this is to encourage innovation in the economy, without the existence of patents; it is argued that research a..
Most countries import substantial amounts of goods and services from other countries. Yet the theory says a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. Can you reconcile these two f..
what is the threshold value of the discrimination coefficient "d" at which prejudiced businesses will start hiring only white workers?
If you sell with a price that is above or below the optimum price, what happens with the consumer surplus? Does your response depend on whether it is perfect competition or perfect monopoly?
Using the balance of payments of United States and Japan, forecast "the direction of change in" the spot exchange rate between Japanese yen and US dollar into the future.
If the price elasticity of demand for a product is -5, and the income elasticity of demand for the product is 2.5. If a 0.5% decrease in product price as accompanied by a 1% decrease in consumer income, the firm's total sales will
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