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Consider the international market for labor-intensive crops like rice and sugar cane. Does the Heckscher-Olin Theorem predict that the United States would export those crops?
Consider the international market for labor-intensive crops like rice and sugar cane.
- Does the Heckscher-Olin Theorem predict that the United States would export those crops? Why or why not?
- Does the Leontief Paradox apply to the United States when it comes to these crops? Why or why not?
- How can New Trade Theory explain why the United States might export labor-intensive crops?
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
