Why china may not follow such a rule

Assignment Help Business Economics
Reference no: EM132337244

Question

Consider the Ricardian model taught in the class with only two countries in the world, China and Singapore, producing two goods Rice and Cloth. China has comparative advantage in Cloth and Singapore in Rice. Ricardian model says they should specialize according to their comparative advantage. Why China may not follow such a rule, while for Singapore it is not a concern?

Reference no: EM132337244

Questions Cloud

Record the issue of the bonds on January : Record the issue of the bonds on January 2, the first semi-annual interest payment on June 30, and the second payment on December 31
Skilled labour and positive economic growth : Are there any examples of higher education effectively helping the economy?
Ontario decided to make post-secondary education free : If Ontario decided to make post-secondary education free, how would this affect the economy?
Demand for massive products massive products : Massive Products, Inc., is a monopolist whose cost of production is given by 10Q+Q2 (so its marginal cost curve-equivalently, its inverse supply curve
Why china may not follow such a rule : Why China may not follow such a rule, while for Singapore it is not a concern?
Shift in the demand curve : Is it a move along the demand curve for ski resorts or a shift in the demand curve? For a shift, make sure to state the direction.
Minimum daily revenue to keep the operation : If you were a taxi driver, the daily revenue and costs are as the following:
Pay for a plane ticket home : Suppose the most you would be willing to pay for a plane ticket home is $250. If you buy one for $175, then your economic surplus is?
Identify some benefits and costs for the host country : Identify some benefits and costs for the host country from allowing a multinational corporation to locate there, despite its developing economy.

Reviews

Write a Review

Business Economics Questions & Answers

  Putting utility on the y-axis and wealth on the x-axis

Suppose James has utility over wealth given by u(w) = w 1 2. Putting utility on the y-axis and wealth on the x-axis, use a graph to show why James would rather have $100 for sure instead of a gamble where he gets $20 20% of the time and $120 the rest..

  Influenced the slope of the phillips curve

The slope of the Phillips curve: Draw a graph with a steep Phillips curve and a graph with a gently sloped Phillips curve. Explain how the two economies respond differently to a boom and to a slump. What are some factors that might influenced the slo..

  Important causes for recent increase in income inequality

Which of the following is one of the most important causes for the recent increase in income inequality in China? Which of the following would be part of the Thai demand for U.S. dollars? The World Bank tracked the performance of countries that had u..

  List six main objectives of public relations efforts

Write a four- to five-page paper that answers the following questions. List six main objectives of public relations efforts. Using a company that sells a product you purchase or provides a service you use, explain how it could try to achieve each of ..

  Performed the bulk of the agricultural labor

What populations have performed the bulk of the agricultural labor in the U.S. since the beginning of the 19th century? Do you think getting paid for "piece work" (e.g., paid per unit picked) rather than an hourly wage is a fair and equitable system ..

  What is your optimal? strategy

Suppose you and a classmate are playing a game where your classmate proposes a division of? $1.00. ? Then, you either accept or reject the offer. If you? accept, then you and the classmate get the proposed portions of the dollar. What is your optimal..

  What is the steady-state level of capital

In the solow growth model, with labor-augmenting technological progress and population growth, if the production function is y= k^1/2, s= .15.

  One important gain to trade is access to global markets

One important gain to trade is access to global markets. That's likely important if

  A central bank that adopts a fixed exchange

A central bank that adopts a fixed exchange rate system may sacrifice its monetary autonomy in setting its domestic monetary policy.

  Present value of a perpetuity

A perpetuity pays $170 per year and interest rates are 6.7 percent. How much would its value change if interest rates increased to 9.2 percent?

  Opportunity cost of going to the concert

Suppose your favorite band is on tour and coming to your area. Tickets are $100, and you take a day off from work, which you would have earned $60. What is your opportunity cost of going to the concert?

  Get the most satisfaction out of our limited resources

Economic analysis is often viewed as the science of rational decision making in a world of scarce resources. We need to think rationally because we live in a world where resources are limited but where people's wants are unlimited. There is not enoug..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd