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INTERNATIONAL TRADE - ECON 4431W Textbook: INTERNATIONAL ECONOMICS by Appleyard and Field (9th edition; McGraw Hill) Question 1. Derive an offer curve. Does a shift

INTERNATIONAL TRADE - ECON 4431W

Textbook: INTERNATIONAL ECONOMICS by Appleyard and Field (9th edition; McGraw Hill)

Question 1. Derive an offer curve. Does a shift in offer curves affect the International Terms of Trade?

Please draw diagram if needed.

Question 2. Why does trade arise in the Heckscher-Ohlin theory? Who gains and who loses with free trade? Explain in detail.

Please draw diagram if needed.

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