Econ-International trade

Choose T/F for the following questions and explain your answer Assume you know the following: aLc : 4 314:" : 5 aLW : 2 3Lw'It : 1 3 T F 4 T F 5 T F 6 T F 7 T F Assume you know the following: 8 T F 9 T F 10. T F The \"gravity\" model in trade suggests that both distance and size of the economy impacts the trade between two countries. In a two-country, two good trade model, it is impossible for one country to have the absolute advantage in both goods. L=100 L*:500 The foreign country has absolute advantage in Wine CW). The foreign country has comparative advantage in Wine (W). Home has a greater pre-trade relative price for Cheese (C) than Foreign. Home has the resources to produce 30 units of Cheese (C). Foreign has the resources to produce 100 units of Cheese (C) before trade but not if it trades. (E)