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discuss the key concepts of the Heckscher-Ohlin Model on factor intensity |
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- discuss the key concepts of the Heckscher-Ohlin Model in factor abundenceDistinguish between Factor Price Equalization and the Stolper-Samuelson theory.Answer the following question according to Hecksher-Ohlin theorem. Explain briefly if factor price equalization theorem is valid in the case of factor intensity reversal. Why or Why not?
- Explain the similarities and differences between the assumptions of Specific Factor Theory and the Model Trading Heckscher – OhlinWhat are the factors contributing to The Stolper-Samuelson Theorem’s discrepancies involving factor price equalization issues?Explain in detail factor price equalisation. Discuss reasons why the factor price equalisationproposition may be unlikely to hold when we compare factor prices across economies.
- Suppose two households earn $40,000 and $56,000 respectively. What is the expected percent difference in wages between the children, grandchildren, and great-grandchildren of the two households if the intergenerational correlation of earnings is 0.2, 0.4, or 0.6?Suppose two households earn $50,000 and $84,000 respectively. What is the expected percent difference in wages between the children, grandchildren, and great-grandchildren of the two households if the intergenerational correlation of earnings is 0.4? Show your work. Children: __________________ Grandchildren: __________________ Great-grandchildren: __________________Clearly explain the Heckscher-Ohlin theorem and the Factor Price Equalisation(FPE) theorem using appropriate diagrams.
- Discuss how upward-sloping age-earnings profiles can elicit more effort from workers.Suppose there are two identical job offers in the same competitive labor market for a software developer position. Both offers have the same salary of $80,000 per year. However, Job A allows the employee to work from home, while Job B requires the employee to commute to the office daily. The average monthly commuting cost for Job B is estimated to be $400. Calculate the compensating differential in this scenario, and determine if it makes economic sense for the employee to choose Job B over Job A. Assume a working year consists of 12 months.Explain he differences between the Ohlin and Leontif theory on factor abundance