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3. Home has 1600 units of labor and Foreign has 1200. It takes Home workers 4 labor units to produce one cellular phone (C) and
- 3. Home has 1600 units of labor and Foreign has 1200. It takes Home workers 4 labor units to produce one cellular phone (C) and 2 labor units to produce a wristwatch (W). Similarly, it takes Foreign labor 8 units to produce one C and 2 labor units to produce one W.
- Graph the world RS curve.
- Let the common RD curve for both countries be represented by: QC/QW=2 PW/PC
- Graph the RD curve on the same graph as RS above.
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Crashed How A Decade Of Financial Crises Changed The World
Authors: Adam Tooze
1st Edition
0143110357, 9780143110354
