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Q. "No country is abundant in everything." Discuss.
Answer: the idea of relative (country) factor abundance is (like factor intensities) a relative concept. When we recognize a country as being capital intensive, we signify that it has more capital per worker than does the other country. If one country has supplementary capital worker than another, it is an arithmetic impossibility that it also has more workers per unit capital.
Q. Refute the claim by mercantilists who claimed that without severe restrictions on international trade and payments, a country might find itself impoverished and without an adequ
What are the benefit derived by Indian Corporates due to WTO - TRIPS?
Q. What are the main factors determining the aggregate money demand? Answer: Three major factors: the price level, interest rate and real national income. A increase i
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in a mixed economy, the government tries to help meet the needs of the public on a limited basis
Q. Explain the purpose of the given figure? Answer: To demonstrate that spot and forward exchange rates are in general close to each other.
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Q. The Specific Factors model clearly illustrates how the expansion of trade can have significant distributional effects on the relative incomes of different factors of productio
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