Suppose when Japan opens to trade, it imports rice, a labor-intensive good. a. According to the HeckscherOhlin

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Suppose when Japan opens to trade, it imports rice, a labor-intensive good.

a. According to the Heckscher–Ohlin theorem, is Japan capital-abundant or labor-abundant? Briefly explain.

b. What is the impact of opening trade on the real wage in Japan?

c. What is the impact of opening trade on the real rental on capital?

d. Which group (capital owner or labor) would support policies to limit free trade? Briefly explain.

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International Trade

ISBN: 978-1319061739

4th Edition

Authors: Robert C Feenstra ,Alan M Taylor

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Question Posted: Jul 19, 2024 07:00 PM

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Suppose when Japan opens to trade, it imports rice, a labor-intensive good. a. According to the HeckscherOhlin

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International Trade

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