Countries a and b have two factors of production capital, Ask an Expert

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Countries A and B have two factors of production, capital and labor, with which they produce two goods, X and Y. Technology is the same in the two countries. X is capital- intensive; A is capital-abundant. Analyze the effects on the terms of trade and on the two countries’ welfare of the following (hint: use standard trade model):

a. Country A experience biased growth toward good X.

b. Country A impose tariff to the imports.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91568192

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