-Refer to Above Figure

question 31

Essay

-Refer to above figure. Two countries exist in this model, P and R. P is relatively labor (L) abundant, as is evident in the bottom right horizontal axis. If Country P were to be completely specialized in the labor-intensive product, C, it would be producing at point 4. In fact, it produces both C and P, at point 5. The (autarky) relative price of C (in terms of
F) of Country P is at point 3; and of Country R at point 1. If trade were to open up between these two countries, which would export C and which would export F? Is this consistent with the Heckscher-Ohlin model? Explain.

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Definitions:

Domestic Violence

Physical, sexual, psychological, or emotional abuse by one person against another within a domestic setting, such as in marriage or cohabitation.

Underreported

Referring to incidents or issues that are not fully or adequately reported or disclosed.

Weapons Effect

The increase in aggression that occurs as a result of the mere presence of a weapon.

Consciously Aware

The state of being fully alert, informed, and attentive to one's surroundings or internal states.