Describe the factor-proportions model of international trade. Relate this to the development of industry in Latin America under ISI.
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Q31: In which decade did countries in the
Q32: The countries of Latin America were slow
Q33: How do the terms of trade affect
Q34: Suppose that Latin America is labor abundant,
Q35: Explain why ISI was doomed to fail.
Q37: Using the basic Hecksher-Ohlin model of trade,
Q38: Draw a graph showing the effects of
Q39: Describe how trade based on comparative advantage
Q40: The HO model predicts that Latin America
Q41: What is a K/L ratio? Why is
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