Question number 6 only.
1.Do you understand the difference between absolute and relative advantage and how it relates to the PPF Curve (IE where each are determined?)
2. Do you under which terms of trade will allow countries to benefit for trade and which will not?
3. Can you recite the Stolper-Samuelson theorem, the Heckscher-Ohlin theorem, and Rybczynski theorem?
4. Do you understand the gravity model as it relates to the recent increase in East Asian trade?
5. Do you understand the winners and losers from trade in the Ricardian, Specifc Factor, and Heckscher âOhlin trade models?
6. Can you explain the basis for trade in all the models covered so far and what the impacts on income distribution are suggested by them?
7. Can you explain this graph? Each of the points, the axis, the curves and the implications of opening up to labour migration
Question number 6 only.
1.Do you understand the difference between absolute and relative advantage and how it relates to the PPF Curve (IE where each are determined?)
2. Do you under which terms of trade will allow countries to benefit for trade and which will not?
3. Can you recite the Stolper-Samuelson theorem, the Heckscher-Ohlin theorem, and Rybczynski theorem?
4. Do you understand the gravity model as it relates to the recent increase in East Asian trade?
5. Do you understand the winners and losers from trade in the Ricardian, Specifc Factor, and Heckscher âOhlin trade models?
6. Can you explain the basis for trade in all the models covered so far and what the impacts on income distribution are suggested by them?
7. Can you explain this graph? Each of the points, the axis, the curves and the implications of opening up to labour migration
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