Discuss and explain how does the Heckscher-Ohlin theory different from Ricardian theory in describing international trade patterns?
The theory demonstrates how trade affects the distribution of income within trading partners. Explain.
How does the Leontief paradox challenge the overall applicability of the factor-endowment model?
According to Staffan Linder, there are two explanations of international trade patterns: one for manufacturers and another for primary agricultural goods. Explain.
Describe a specific tariff, an ad valorem tariff, and a compound tariff. What are the advantages and disadvantages of each?