The ricardian model - Study guides, Class notes & Summaries

Test Bank For International Macroeconomics 4th Edition By Robert C. Feenstra, Alan M. Taylor | Complete All Chapters . Which of the following is NOT a reason why countries trade goods with one another? A) differences in technology used in different countries B) differences in countries' total amount of resources C) the proximity of countries to one another D) differences in countries' languages and cultures 2. David Ricardo's model explains trade based on: A) labor supply. B) technolo...

What are two reasons diminishing returns to specialization occur? correct answers different goods use resources in different proportions not all resources are the same quality According to the Samuelson critique, middle class wages in the United States will be _____ as the result of the offshoring of service jobs and rapid advances in foreign labor productivity. correct answers diminish What is the likely result for the gains from specialization according to the concept of diminishing r...

Test Bank for International Economics: Theory and Policy 12e 12th Edition by Krugman, Maurice Obstfeld; Marc Melitz ISBN-13: 6859 Full chapters test bank in PDF . Introduction PART ONE: INTERNATIONAL TRADE THEORY 2. Word Trade: An Overview 3. Labor Productivity and Comparative Advantage: The Ricardian Model 4. Specific Factors and Income Distribution 5. Resources and Trade: The Heckscher-Ohlin Model 6. The Standard Trade Model 7. External Economies of Scale and the Internationa...

Reasons countries trade goods with each other include: ■ Differences in the technology used in each country (i.e., differences in each country’s ability to manufacture products) ■ Differences in the total amount of resources (including labor, capital, and land) found in each country ■ Differences in the costs of offshoring (i.e., producing the various parts of a good in different countries and then assembling it in a final location) ■ The proximity of countries to each other (i.e.,...

Test Bank - International Economics: Theory and Policy, Global Edition 12th Edition by Paul Krugman, Maurice Obstfeld & Marc Melitz - Complete, Elaborated and Latest Test Bank. ALL Chapters (1-22) Included and Updated #InternationalEconomics #TradeTheory #ComparativeAdvantage #TradePolicy #ExchangeRates #Macroeconomics #Globalization #InternationalTrade #DevelopingCountries #MonetaryPolicy #FinancialCrisis #Euro #Growth #Reform Chapter: 1. Introduction PART 1: INTERNAT...

Chapter 4: Resources and Trade: The Heckscher-Ohlin Model 1. In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would A. move the point of production along the production possibility curve. B. shift the production possibility curve outward, and increase the production of both goods. C. shift the production possibility curve outward and decrease the production of the labor-intensive product. D. shift the production possibility curve outward and decr...

Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if A. U.S. labor productivity equaled 40 units per hour and Japan's 15 units per hour. B. U.S. productivity equaled 30 units per hour whereas Japan's was 20. C. U.S. labor productivity equaled 20 and Japan's 30. D. U.S. labor productivity equaled 15 and Japan's 25 units...

International Economics: Theory and Policy Sixth Edition Krugman and Obstfeld Test Bank | Complete All Chapters. Introduction 1 Chapter 2 Labor Productivity and Comparative Advantage: The Ricardian Model 14 Chapter 3 Specific Factors and Income Distribution 28 Chapter 4 Resources and Trade: The Heckscher-Ohlin Model 41 Chapter 5 The Standard Trade Model 56 Chapter 6 Economies of Scale, imperfect Competition, and International Trade 70 Chapter 7 International Factor Movements 82 Chapter 8 ...

Study Outline for Econ S10b Midterm Exam Harvard University, Summer School Note: The assigned readings are potential sources for exam questions. I will NOT ask narrow factual questions about these readings, but you should be able to relate their main arguments to the material we have discussed in class. Note: The following outline does NOT cover everything we have studied in the class. All concepts and applications that we have discussed in class are possible exam topics. Good items to st...

International trade is logically associated with which assumption? A. Resources are less mobile internationally than domestically. B. Resources are more mobile internationally than are goods. C. Imports should exceed exports. D. Exports should exceed imports. E. None of the above. Answer: A 21. Arguments for free trade are sometimes disregarded by the political process because A. economists tend to favor highly protected domestic markets. B. economists have a universally accepted decis...