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Q.. "A good cannot be both land- and labor-intensive." Discuss.
Answer: In a two good or two factor models for instance the original Heckscher-Ohlin framework and the factor intensities are relative intensities. Therefore, the relevant statistic is also workers per acre (or acres per worker) or rental per wage or wage per rental unit. In order to exemplify the logic of the statement above, let us suppose that the production of a broom requires 4 workers and 1 acre. As well, let us suppose that the production of one bushel of wheat requires 40 workers and 80 acres. In this case the acres per person necessary to produce a broom is one quarter, where to produce a bushel of wheat requires 2 acres per person. The wheat is thus (relatively) land intensive furthermore the broom is (relatively) labour intensive.
Q. Use the DD - AA model to examine and compare the response of an economy under fixed and floating exchange-rate regimes to a temporary fall in foreign demand for its exports.
Q. Explain how Brazil was able to reduce the rate of inflation from 2,669 percent in 1994 to less than 10 percent in 1997? Answer: By initiating a new currency and init
which book by adam smith explains the absolute advantage ?
theory of opportunity cost?
International Capital Mobility is explained below: The case for the international capital mobility was most evidently articulated by MacDougal in 1960. He presented a framework
Q. Explain why the European Union's current combination of rapid capital migration with limited labor migration may actually raise the cost of adjusting to product market shocks wi
Q. Present the case for floating exchange rates. Answer: 1. Monetary policy autonomy Governments would able to use financial policy to reach internal and extern
Q. Why is the H.O. model called the factor-proportion theory? Answer: The H.O. model survey the limitations and the nature of presumptuous that the sole determinant of compar
essay should be based on one of the problems mentioned into Haberler (1950) with references to the main assumptions of the general equilibrium analysis
what is ppp
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