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This is about international trade.
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II want to know the answers. This is about international trade. 6 True or False. In...
These questions are about international trade. I want to know the answers. 5 Heckscher-Ohlin Model. Suppose...
These questions are about international trade.
I want to know the answers.
5 Heckscher-Ohlin Model. Suppose the production of cloth is labour intensive and the production of food is land intensive and suppose the United States (US) is labour abundant and Canada is land abundant. (a) Show how the US production possibility frontier (PPF) differs from the Canadian PPF. Briefly explain. (Use the general version of the PPF's) (b) Which country will have the lower price of cloth Pc relative...
In the traditional Heckscher-Ohlin model, the two countries differ in: Select one: O a. Technology O...
In the traditional Heckscher-Ohlin model, the two countries differ in: Select one: O a. Technology O b. Their preferences for cloth and food. O c. Capital productivity. d. Relative abundance of production factors. Assume that two countries, Home and Foreign, are endowed with the following production factors. Countries Factor Endowments Home Foreign Labor (L) 9040 Capital (K) 30 20 Assume that food is capital-intensive and cloth is labor-intensive. Following the Heckscher-Ohlin Theory Select one: A. Foreign will export food. B....
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in f...
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in few sentences 1. (6 points) In the general neoclassical model with perfect competition, constant returns to scale, homothetic preferences. (a) The consumption bundle under autarky may not be affordable under free trade (b)Let p be the price vector under autarky, p be the price vector under trade, and m be the vector of net imports under trade. Thern , (p* -pP)o (c) With 2...
(a) State and explain if the following statements are True, False or Uncertain. You have to...
(a) State and explain if the following statements are True, False or Uncertain. You have to explain your option even if the answer is True. If marginal cost in two markets is identical for a firm, then an international monopolistically competitive firm would set the same price in both markets. The Heckscher-Ohlin model can explain why the relative demand for skilled workers has increased within all sectors in developed countries in recent decades. In the specific factor model with labor...
(10 marks) Suppose there exist 2 countries, Home and Foreign; 2 goods, X and Y; and...
(10 marks) Suppose there exist 2 countries, Home and Foreign; 2 goods, X and Y; and 2 factors of production, labour (L) and capital (K). Each country can produce both goods. X is labour-intensive and Y is capital-intensive. Home is labour-abundant and Foreign is capital-abundant. Assume that the standard assumptions of the Heckscher-Ohlin model hold. When answering the following question, please support each of your arguments with detailed analysis and draw the relevant diagrams to support your answer. Consider a...
1. The Heckscher–Ohlin model Home and Foreign have two production fac- tors, skilled and unskilled labor...
1. The Heckscher–Ohlin model Home and Foreign have two production fac- tors, skilled and unskilled labor and produce two goods, textiles and com- puters. Home is skilled labor abundant, and computers are skilled labor intensive. Starting from a situation of autarky, the two countries liberalize trade. Assuming that the two countries produce both goods before and after trade liberalization, answer the following questions: (a) What is the effect of trade liberalization on the relative price of com- puters at Home...
Question 1 Use the 2-country Ricardian model with free trade (graphically, using standard graphs) to work...
Question 1 Use the 2-country Ricardian model with free trade (graphically, using standard graphs) to work out the effects of the following changes (one at a time) on the Home and Foreign terms of trade and welfare. Assume that two goods, Food and Cloth, are produced and consumed, Home country has a comparative advantage in Food, and that in the initial equilibrium, both countries specialize completely. Assume that preferences are identical and homothetic in the two countries. (a) A decrease...
1-Home produces 2 goods X and Y . Home country has two factors of production, Labor...
1-Home produces 2 goods X and Y . Home country has two factors of production, Labor and Capital. All consumers at Home have preferences over two goods that can be represented by the utility function U(X,) =XY . The factor requirements per unit of output of the two goods are also fixed and they are shown in the following table: Good X Good Y Labour 1/3 2/3 Capital 2/3 1/3 Home country has 360 units of Labour and 600 units...
Problem 1 A country (”Home”) is populated with 300 workers who produce either food (F) and/or...
Problem 1
A country (”Home”) is populated with 300 workers who produce
either food (F) and/or clothing (C). Each food worker produces 6
units of food and each clothing worker produces 3 units of
clothing. The preferences of the consumers over food and clothing
are represented by the utility function: u(DF ,
DC) = (DF ) 2/3 (DC)
1/3
1) Assuming that at the optimum, consumers set their marginal
rate of substitution, MRSDF ,DC , to the relative price,
i.e.,...
Consider a world with two countries, Home and Foreign, both able to produce two goods: cloth and tablet computers. The p...
Consider a world with two countries, Home and Foreign, both able to produce two goods: cloth and tablet computers. The production of both goods uses capital and labor in fixed proportions, with the tablets industry using more capital per worker than the cloth industry. The units of each input needed to produce one unit output are given by: capital Labor Cloth 1 2 Tablets 2 1 Both countries have 150 units of capital available for production, but the Home country...
These questions are about international trade.
I want to know the answers.
5 Heckscher-Ohlin Model. Suppose the production of cloth is labour intensive and the production of food is land intensive and suppose the United States (US) is labour abundant and Canada is land abundant. (a) Show how the US production possibility frontier (PPF) differs from the Canadian PPF. Briefly explain. (Use the general version of the PPF's) (b) Which country will have the lower price of cloth Pc relative...
In the traditional Heckscher-Ohlin model, the two countries differ in: Select one: O a. Technology O b. Their preferences for cloth and food. O c. Capital productivity. d. Relative abundance of production factors. Assume that two countries, Home and Foreign, are endowed with the following production factors. Countries Factor Endowments Home Foreign Labor (L) 9040 Capital (K) 30 20 Assume that food is capital-intensive and cloth is labor-intensive. Following the Heckscher-Ohlin Theory Select one: A. Foreign will export food. B....
Determine whether each of the following statements is TRUE or FALSE. Justify all the answers in few sentences 1. (6 points) In the general neoclassical model with perfect competition, constant returns to scale, homothetic preferences. (a) The consumption bundle under autarky may not be affordable under free trade (b)Let p be the price vector under autarky, p be the price vector under trade, and m be the vector of net imports under trade. Thern , (p* -pP)o (c) With 2...
Question 1 Use the 2-country Ricardian model with free trade (graphically, using standard graphs) to work out the effects of the following changes (one at a time) on the Home and Foreign terms of trade and welfare. Assume that two goods, Food and Cloth, are produced and consumed, Home country has a comparative advantage in Food, and that in the initial equilibrium, both countries specialize completely. Assume that preferences are identical and homothetic in the two countries. (a) A decrease...
Problem 1
A country (”Home”) is populated with 300 workers who produce
either food (F) and/or clothing (C). Each food worker produces 6
units of food and each clothing worker produces 3 units of
clothing. The preferences of the consumers over food and clothing
are represented by the utility function: u(DF ,
DC) = (DF ) 2/3 (DC)
1/3
1) Assuming that at the optimum, consumers set their marginal
rate of substitution, MRSDF ,DC , to the relative price,
i.e.,...
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