Problem1 what do you regard as the main weaknesses of the, Ask an Expert

Economics

Problem

1. What do you regard as the main weaknesses of the Ricardian/Classical model as an explanation of trade patterns? Why do you regard them as weaknesses?

2. (Requires appendix material) Explain what would happen in the DFS model to relative wages and the pattern of trade if there is a uniform increase in productivity in all industries in the foreign country. What will happen to real income in each of the two countries? Why?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M92756437

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