4. Describe the Factor Proportions or Heckscher-Olin Theory of Trade, the assumptions, and give an example...

4. Describe the Factor Proportions or Heckscher-Olin Theory of Trade, the assumptions, and give an example of your choice that demonstrates an autarky (no trade) to a free trade solution. Make sure you label exports, imports, trade triangles, and terms of trade in the solution. You may use the PPC type graph/model below for structure to demonstrate the solution stages.

11.) Explain the basic components of the Balance of Payments and explain how are they related to comparative advantage and the pattern of trade in a country?

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Rahul Sunny answered 1 year ago

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