Question

In: Economics

1. The multiminus?good (2minus? country) model differs from the two country, two product model, in that...

1.

The

multiminus?good

(2minus? country)

model differs from the two country, two product model, in that in the former,

A.

full specialization is less likely to hold in equilibrium.

B.

the relative wage ratio will determine the pattern of trade ( which good is exported by which country.

C.

one cannot determine which country will export which product given only labor productivity data.

D.

All of the above.

E.

None of the above.

2.

f transportation costs are especially high for Widgets in a Ricardian 2X2 model in which Country A enjoys a comparative? advantage, then

A.

Country B must also enjoy a comparative advantage in Widgets.

B.

Country A may switch to having a comparative advantage in the other good.

C.

Country B may end up exporting Widgets.

D.

All of the above.

E.

None of the above.

3.

Which of the following is most likely to be an untraded good in a Ricardian

twominus??country,

multiminus?good

?model?

A.

haircuts

B.

telemarketer services

C.

textiles

D.

steel

E.

petroleum

4.

When compared with? China, the growth of clothing exports originating in Bangladesh is the result of

A.

the absolute advantage that Bangladesh has in the production of clothing for export.

B.

the comparative and absolute advantage that Bangladesh has in the production of clothing for export.

C.

the comparative advantage that Bangladesh has in the production of clothing for export.

D.

the absolute advantage that China has in the production of clothing for export.

E.

the comparative and absolute advantage that China has in the production of clothing for export.

Expert Solution

Rahul Sunny answered 2 years ago

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