4. For this problem, you will need information on the total land area of countries, the...

4. For this problem, you will need information on the total land area of countries, the % of land area that is arable, and the labor force (employed + unemployed, a measure of how many people are active in a labor market in a country). The World Bank compiles data on each economic variable below: Arable land: http://data.worldbank.org/indicator/AG.LND.ARBL.ZS Total land area: http://data.worldbank.org/indicator/AG.LND.TOTL.K2 Labor force: http://data.worldbank.org/indicator/SL.TLF.TOTL.IN We will focus on two countries: India and Ukraine. a. Compute the ratio of labor (labor force) to arable land (in square kilometers) in India and Ukraine. Which country is land-abundant? Which country is labor-abundant? Please use data from the year 2015. (8 points) b. Suppose there are two products: wheat and textiles. Wheat is land-intensive and textiles are labor-intensive. According to the Heckscher-Ohlin theory of trade, which country would export textiles? Which country would export wheat? (6 points) c. Examine the exports of each country using the following data compiled by MIT: India: https://atlas.media.mit.edu/en/profile/country/ind/ Ukraine: https://atlas.media.mit.edu/en/profile/country/ukr/ Do the exports of each country generally match the predictions of the Heckscher-Ohlin theory of trade? Hint: You may want to toggle HS2 under “depth” on the export diagram to get a better idea of the categories of products the countries export. (8 points)

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Rahul Sunny answered 1 year ago

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