Reference no: EM133082791

Leontief's paradox is an example of testing a trade model, namely the Heckscher-Ohlin model, using actual observations on imports and exports. If Leontief had observed that the amount of labor needed per $1 million of U.S. exports was 100 person-years instead of 182 in Figure 4.1 (page 101), would he have reached the same conclusion? Briefly explain your answer.

To begin your answer, please take a clear position. For example, state "Yes, Leontief would have reached the same conclusion if he dad observed that the amount of labor needed to per $1 million of US exports was 100 person-years instead of 182," or "No, Leontief would not have reached the same conclusion if he dad observed that the amount of labor needed to per $1 million of US exports was 100 person-years instead of 182." Then, briefly explain your conclusion.