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Question # 3: Suppose when Japan opens to trade, it imports rice, a labor-intensive good. a. According to the HeckscherOhlin theorem, is Japan capital-abundant or

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Question # 3: Suppose when Japan opens to trade, it imports rice, a labor-intensive good. a. According to the HeckscherOhlin theorem, is Japan capital-abundant or labor- abundant? Briey explain. b. What is the impact of opening trade on the real wage in Japan? c. What is the impact of opening trade on the real rental on capital? (1. Which group (capital owner or labor) would support policies to limit free trade? Briey explain

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