What determines pattern of international trade in ricardian

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Reference no: EM13394492

1. What determines the pattern of international trade in the Ricardian model?

2. Using the Ricardian model, explain why American workers receive higher wages in the production of automobiles than Chinese workers.

3. Explain why countries gain from trade in the Ricardian model.

4. What are a country's terms of trade and what do improvements in the terms of trade mean?

5. Why is the production possibilities frontier a straight line in the Ricardian model?

Reference no: EM13394492

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