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1) Consider two Countries that share the same technology, South Africa and the UK, and two goods, Diamonds and Tea. There is a Free Trade Agreement in place between them. The Capital Labor ratio to produce Diamonds (K/LD) equals 3, while the Capital Labor ratio to produce Tea (K/LT) is 2. Trade between the two countries is described by the following table (Imports have negative sign, Exports have positive sign; the numbers reported are already converted in a common international currency):
South Africa
UK
Diamonds
+100
-100
Tea
-30
+30
Interpret this situation using the lens of the Heckscher-Ohlin Model:
Capital (thousands of machines)
1000
3000
Labor (thousands of workers)
500
2000
Change ONE assumption in the Heckscher-Ohlin model and rationalize the observed pattern of trade between the two countries
2) Consider the reading China hits back at EU wine over solar panel duties.
3) Calculate the value of the Intraindustry Trade Index for Mexico and Germany using data from the following table
Mexico
Industry
Exports (millions of Mxn Pesos)
Imports (millions of Mxn Pesos)
Automobiles
0
200
Furniture
130
750
Primary Metal Industries
20
Coal
230
Agricultural Crops
700
50
Germany
Exports (millions of Euros)
Imports (millions of Euros)
100
350
850
300
4) For this part of the Homework, you will have to elaborate data from the Canadian International Merchandise Trade Database You are encouraged to use a spreadsheet for this part. Select "Netherlands" as a Trading Partner. Use Annual Data, month of reference: July.
The U.S. economy has fallen into a recession. It is a severe and deep recession, and one that some economic analysts say may persist for at least another year. The unemployment rate has risen to levels not seen in over 20 years.
Why resources are no longer the most important indicators of economic growth disparity among countries? Which other economic and non-economic factors do you think explain the reasons behind growth disparities among countries?
Suppose that the current Canadian dollar (CAD) to U.S. dollar exchange rate is $0.8 CAD = $1 U.S. and that the U.S. dollar price of an Apple iPhone is $280. What is the Canadian dollar price of an iPhone What is the new Canadian dollar price of an ..
All investors will prefer a portfolio with expected return 10% and standard deviation 6% to a portfolio with expected return 10% and standard deviation 8%. as true or false, and explain.
Suppose that the U.S. textile industry is competitive and there is no international trade in textiles. In long run equilibrium, the price per unit of cloth is $30. Describe the equilibrium using graphs for the entire market and for an individual pr..
Nowadays, China drives the global economy. So if the trade barrier is reduced, the Chinese economy will go down and affects the economy of the whole world. Do you agree or disagree with this argument.
Wholesalers of roses (the firms that supply your local flower shop with roses for Valentine's Day) buy and sell roses in containers that hold 120 stems. The table provides information about the wholesale market for roses in the United States.
Determine the quota induced price increase and the resulting decrease in consumer surplus and what is the overall welfare loss to Venezuela as a result of the quota?
Describe the company and provide a brief history of its operations. Find or use graphs to illustrate its financial performance over the years. Identify any sources of risk or uncertainty in its operations. Do the financial reports indicate risky o..
The equilibluim of the French cost per pound would be $20 per pound and the pounds of lobster would be 700 This gives a good opportunity to sell to the fishermans and they would be better off. If they would sell more lobster at a higher price the ..
1. In the formula for Bayes theorem if the w-probability is greater than the zero than the a-probably is less than the b-probability 2. posted offer markets with at least two sellers will generate prices that remain a little above prices from doub..
Calculate the price elasticities of demand in each market and discuss these in relation to the prices to be charged in each market.
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