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- In relation to Marx, what are the central dynamics driving globalization?What is the prediction of Ricardian Model with regard to trade in the real world? Explain,Is there any empirical evidence to support the prediction of Ricardian Model?What role international trade and foreign investment can play in solving some of the problems identified in the big push model?
- Draw the graph by using the Malthusian model to analyze the change in real wages in the short and - long-run after the discovery of the Atlantic trade route in Britian? Show any movement along curve or shift in curve? How will you justify increase real wages in a predominantly agrarian economy such as Britain? Analyze the effect on real wages in relation to the subsistence wageIf countries specialize according to their absolute advantage then the Ricardian model statesthata. the. trade is beneficial for all trade partners.b. trade is a stupid idea anyway.c.it is ambiguous whether trade is beneficial for all trade partners.d. trade is only beneficial for those who have absolute advantage as wellIn the 2-factor, 2 good Heckscher-Ohlin model, a change from autarky (no trade) to trade A. will tend to make rents equal to interest ratesB. will tend to make the wages in both countries less similarC. will tend to make the wages in both countries more similarD. will tend to make the wages equal to returns to capital
- The Ricardian model predicts that the market prices for goods with trade cannot be outside the range of the market prices in autarky. True FalseWhat would happen in Ricardian model and the Heckscher-Ohlin model, a) If one country tried to export more to the other country? b) If one country restricted the amount of imports from the other country? c) What does this imply for trade policy? Please answer correct explain plz asap plz Don't answer by pen paper plzHow can we reconcile these four classical models? In other words, what are some positives that can be taken from each model? Linear stages theory, Structural-change model (Lewis two-sector model), International dependence/dominance model, Neoclassical model
- For a competitive equilibrium in a two-period model, must there be an equal amount of borrowing and lending?Modern economic models sometimes require strong assumptions. What do you think are some of the trade-offs between a more rigorous, logically cohesive model with strong assumptions but clear inferences and a description of problems followed by a verbal discussion of possible implications? The o-ring and big push models are based on which of these approaches?Using the one factor Ricardian model concept and the unit labor requirements information in the table below, determine d) In what commodity production, foreign has a comparative advantage.Explain.e) Which country has an absolute advantage. Explainf) If PC is the price of Cheese and PW is the price of Wine, and PC = PW, thenWhat commodities will domestic specialize in?g) If PC is the price of Cheese and PW is the price of Wine, and PC = PW, thenwhat commodities will foreign specialize in?h) Using the comparative advantage information above, determine the commodity thatexported and imported by domestic and foreign respectively?i) If PC = PW or PC/PW = 1, what is the gain from trade obtaineddomestic and foreign if each country specializes inwhich production has a comparative advantage? Explain.j) If if PC = PW = $9, what is the wage relative to trade.Which country's workforce benefits from the trade?