ECON 3923 WI01 International Trade Theory 2025 Winter
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According to the factor price equalization theorem with two factors of production and two goods, a nation that has a relative capital abundance should specialize in the production of goods that are ______ intensive resulting in a decrease in the price of the services of the factor of production ____.
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If the nation's tastes for its import commodity increases:
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Offshoring refers to
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Consider a world of two countries, Home and the rest of the world ROW, only one factor of production labour, and two goods X and Y. The productivities of a worker in the productions of X and Y in ROW are higher than the corresponding productivities of a worker in Home. Compared to a regime of autarky
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Intra-industry trade takes place:
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If in a two-nation (A and B), two-commodity (X and Y) world, it is established that nation A has a comparative advantage in commodity X, then nation B must have:
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If with one hour of labor time nation A can produce either 3 units of X or 3 units of Y, but not both, while nation B can produce either 1 unit of X or 3 units of Y , but not both, (and labor is the only input):
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Which is not an assumption of the Hecksher-Ohlin model?
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International Free Trade will ______ the price of a nation’s abundant resources and _____ the price of a nation’s scarce resources
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The commodity in which the nation has the smallest absolute disadvantage is the commodity of its
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