Discuss how alternative models seek to address weaknesses in the comparative advantage model.
-Explain the need to go beyond the analysis of static comparative advantage according to modifications of the assumptions, paying particular attention to
a. Transportation costs
b. Factor proportions
c. Human capital and knowledge
d. Distribution of benefits and costs of trade
e. Economies of scale and monopolistic competition
f. The product cycle and industrial metamorphoses
g. Anomalous terms of trade between primary and manufactured goods
Correct Answer:
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Q21: Use the comparative advantage model to explain
Q22: Explain the predicted and actual outcomes of
Q23: Explain the predicted and actual outcomes of
Q24: Compare and contrast alternative models of trade.
-How
Q25: Compare and contrast alternative models of trade.
-How
Q27: Discuss how alternative models seek to address
Q28: Discuss how alternative models seek to address
Q29: Discuss how alternative models seek to address
Q30: Discuss how alternative models seek to address
Q31: Discuss how alternative models seek to address
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