How does this joke relate to theory of intra-industry trade

Reference no: EM133269925

Assignment:

QUESTION

One definition of an economist is somebody who sees something happen in practice and wonders if it will work in theory.

a. How does this joke relate to the theory of intra-industry trade? Though the theory of intra-industry trade was an important breakthrough, much remains to be done. Several economists take issue with the parameter in the model.

b. Give two reasons why economists might be concerned about this parameter.

Reference no: EM133269925

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