Business, 30.07.2021 02:10, ShilohTheBoy

For questions (1)-(11) below consider the following specific factors model. Vietnam and Thailand produce beans and trucks. Labor is the mobile factor (i. e. labor is used in the production of both goods). The specific factor for beans is land, and the specific factor for trucks is capital. Under the closed-economy equilibrium the relative price of beans with respect to trucks is lower in Thailand than in Vietnam (i. e. under closed economy Pbeans Thailand/P trucks Thailand < Pbean Vietnam/Ptrucks Vietnam). Questions (1)-(2) are about the closed-economy equilibrium. (1). Thailand has the comparative advantage in trucks.
(2). The rental rate of land in Vietnam equals price of trucks times the marginal product of land for trucks. For questions 34(11) below, assume that Thailand and Vietnam are engaged in free trade.
(3). Under the free trade equilibrium, Vietnam produces only trucks and no beans.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 22:00, jayzeptor

How would you cite different books by the same author on the works cited page? a. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. b. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. –––. ballads in poetry – a critical review. dallas: garden books, 1962. print. c. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. moore, jack h. folk songs and ballads. salem: poetry press, 1999. print. d. moore, jack h. ballads in poetry – a critical review. dallas: garden books, 1962. print. –––. folk songs and ballads. salem: poetry press, 1999. print.

Answers: 1

continue

Business, 22.06.2019 14:00, bosskid361

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate

Answers: 1

continue

Business, 22.06.2019 16:40, yoooo9313

An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?

Answers: 3

continue

Business, 23.06.2019 02:30, maricruzisfye

Interview notes mike is 50 and made $36,000 in wages in 2017. he is single and pays all the cost of keeping up his home. mike's daughter, brittany, lived with mike all year. brittany's son, hayden, was born in november 2017. hayden lived in mike's home since birth. brittany is 25, single, and had $1,500 in wages in 2017. she is not disabled. mike provides more than half of the support for both brittany and hayden. mike, brittany, and hayden are all u. s. citizens with valid social security numbers. 4. who can mike claim as a qualifying child(ren) for the earned income credit?

Answers: 1

continue

Do you know the correct answer?

For questions (1)-(11) below consider the following specific factors model. Vietnam and Thailand pro...