ECON 3923 WI01 International Trade Theory 2025 Winter
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According to the Heckscher-Ohlin model, free trade reduces international differences in:
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The offer curve of a given nation shows:
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Consider a world of two countries, Home and the rest of the world ROW, only one factor of production labor, and two goods X and Y. The marginal productivities of a worker in the productions of X and Y in ROW are lower than the corresponding productivities of a worker in Home. Compared to a regime of autarky
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Which of the following is not a reason for increasing opportunity costs?
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Let the price of Y be equal to one. If the price of X in terms of Y is less than the equilibrium price of X in terms of Y under free trade
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Which of the following is not true for a nation that is in equilibrium under autarky?
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Under autarky, when the price of Y is equal to one, the equilibrium price of X in terms of Y is
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Which statement is incorrect? At equilibrium with free trade, different nations will have
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According to the factor price equalization theorem, a nation that has a relative capital abundance should specialize in goods that are ______ intensive resulting in an increase in the price of ____.
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With free trade under increasing opportunity costs and full employment, what is not true?
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