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Explain how the heckscher-ohlin model of international trade is superior to the nico-ricardian model?
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- how do I explain comparative advantage in the Ricardian model of international trade as well as the gains from trade in that context?Explain Paul Krugman's theory of international trade by emphasizing its main differences from traditional trade theories.Compare Paul Krugman's theory of international trade, emphasizing its foundations from traditional trade theories. (not too long, just fundamentals)
- Are the Bretton Woods institutions still capable of efficiently governing world trade?Which of the following is an example of a nontariff trade barrier? Group of answer choices Customs and Administrative Entry Procedures International duties Compound duties Revenue tariffsBecause the Ricardian trade theory recognized only how supply conditions influence international prices, it could determine a. the equilibrium terms of trade b. the outer limits for terms of trade c. where a country chooses to locate along its production possibilities frontier d. where a country chooses to locate along its trade triangle.
- Which of the following is not an advantage of trade liberalization? Select one: a. An access to a larger market b. Reduction in the cost of transportation c. Increased export credit facilities d. Improvements in communication systems e. An increase in competitionWhat are some of the economic and noneconomic rationales governments use to intervene in trade? Discuss the advantages and disadvantages of protectionist policies.By demonstrating competence in words the theory and evolution of international trade with emphasis on comparative advantage.
- International Dualism and Domestic Dualism are merely different manifestation of the same phenomena .What is meant by this. Is valid conceptualization? Why or Why not.The country of Autarkistan is currently closed off from the world and engages in no international trade. Like the rest of the world, it produces and consumes (only) two goods, textiles and machines, using labor and capital. The textile industry employs more labor, per unit of capital, than does the machine industry. Being poor, Autarkistan has far less capital per worker than does the rest of the world. According to the Factor Proportions (H-O) model of international trade, in which good does Autarkistan have a comparative advantage? Group of answer choices Textiles Machines Cannot tell.The country of Autarkistan is currently closed off from the world and engages in no international trade. Like the rest of the world, it produces and consumes (only) two goods, textiles and machines, using labor and capital. The textile industry employs more labor, per unit of capital, than does the machine industry. Being poor, Autarkistan has far less capital per worker than does the rest of the world. According to the Factor Proportions (H-O) model of international trade, in which good does Autarkistan have a comparative advantage? Again, suppose that Autarkistan opens up to free international trade with the world. Using the H-O model, what will happen to the real wage of labor in the machine industry in Autarkistan? Group of answer choices Rise Fall Not Change Cannot tell.