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What is the effect of a biased expansion of production possibilities? What is meant by abundant and scarce resources? Is it an absolute or relative
What is the effect of a biased expansion of production possibilities? What is meant by abundant and scarce resources? Is it an absolute or relative term? What is meant by factor intensity in production? Is it an absolute or relative term? What is the main prediction ofthe Heckscher-Ohlin model according to the trade patterns? Who exports what? Do factor prices tend to equalize in the HeckscherOhlin model? Explain your
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