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the following four questions (questions (9) through (12)) based on the following information: Suppose that the U.S. and Mexico are two Ricardian economies. Both countries
the following four questions (questions (9) through (12)) based on the following information: Suppose that the U.S. and Mexico are two Ricardian economies. Both countries can produce only two goods; sweaters and wheat. The characteristics of each economy are summarized in the following table. Labor Productivity in Sweaters Labor Productivity in Wheat Endowment of labor United States 1/5 1/2 1000 Mexico 1/3 1/3 1200
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