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Q.. "A good cannot be both land- and labor-intensive." Discuss.
Answer: In a two good or two factor models for instance the original Heckscher-Ohlin framework and the factor intensities are relative intensities. Therefore, the relevant statistic is also workers per acre (or acres per worker) or rental per wage or wage per rental unit. In order to exemplify the logic of the statement above, let us suppose that the production of a broom requires 4 workers and 1 acre. As well, let us suppose that the production of one bushel of wheat requires 40 workers and 80 acres. In this case the acres per person necessary to produce a broom is one quarter, where to produce a bushel of wheat requires 2 acres per person. The wheat is thus (relatively) land intensive furthermore the broom is (relatively) labour intensive.
Vernon's product cycle theory
Q. Should the IMF be abolished? Discuss. Answer: Arguments for eliminating the IMF must mention moral hazard and insistence on high interest rates and hasty structural
Assume the United States exports 1000 computers at a price of $3000 each and imports 15 UK autos at a price of 10000 pounds each. Assume that the dollar/pound exchange rate is $2 p
Financial Resources: The first investor is the Fitaihi Company under the leadership and technical and medical assistance of Dr. Walid Fitaihi, who was then joined by other investo
Q. What is the national income identity for an open economy? Answer: Y = C + I + G + EX - IM.
What will be the effects of an increase in real national income on the interest rate? Answer: An enhance in real national income will increase the interest rate. If investment
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why is international trade important for south africa
Q. Is Europe an optimum currency area? Answer: Yes the area's economy is strongly integrated with its own: most EU members export as of 10 to 20 percent of their output
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