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Answer the following question in detail using economics language ? 99mm Assume that you are employed by the Minister of Trade for a small country.

Answer the following question in detail using economics language ?

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99mm Assume that you are employed by the Minister of Trade for a small country. With your recently gained knowledge of the Heckscher-Ohlin Model and the Stolper-Samuelson Theorem, how do you react to the following statements by your colleagues in business and government? a. Minister of Labor: "Since we are a very labor-abundant country, allowing free trade would lower wages making our people even poorer.\" b. Owner of an Export Firm: "Free trade would make every individual in the country better off.\" W Use the analytics of the labor market graph discussed in class to show the impact of immigration of skilled labor into an economy on the wage ratio of skilled labor to unskilled labor. Draw the graph and explain your reasoning behind any shift of a curve clearly. Economic reasoning

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