1. Hours of Labor Required to produce Cheese and Wine USA FRANCE Cheese 20 30 Wine 20 d. Wage rate in Erance is $4 per unit hours of labor.( when calculated in dollars) What should the wage rate interval in the US be if trade is flowing between the two countries based on comparative advantage? if the wage rate in USA is 12$ what will happen to trade pattern of the countries

1. Hours of Labor Required to produce Cheese and Wine USA FRANCE Cheese 20 30 Wine 20 d. Wage rate in Erance is $4 per unit hours of labor.( when calculated in dollars) What should the wage rate interval in the US be if trade is flowing between the two countries based on comparative advantage? if the wage rate in USA is 12$ what will happen to trade pattern of the countries

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 1CQQ

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Similar questions

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