ECON 232 Study Guide - Final Guide: Price Elasticity Of Demand, Atlantic Ocean, Iron Ore
19 Mar 2016
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Heckscher-ohlin and trade-induced convergence: factor prices vs. income per capita, when does income converge, evidence. British trade policy: free trade and the impact on government revenue: the impact on global trade and foreign demand. =>weak input intensiies big shit d wheat and d loco. Demand for land increases a lot in canada, decreases a lot in uk. Demand for skilled labor increases a litle in uk, decreases a litle in canada. For given change of demand of land change of wage of material is large. For given change of demand of skill change of wage of skilled labor is small. Export those which are produced cheaply, cheap because this input is cheap and intensively used. 2. tech endow land intensively tech induced cheap land prices. Uk: endow skilled labor because of history. 2. skilled labor intensively y=income percepion trade is not a zero-sum game, not perfect balanced. Trade is not an ambiguous factor to meg.
