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Unformatted text preview: Econ4450_09.Prelim1 20090220 Do any 5 out of the 6 questions (all equally weighted). If one tries all 6, the last will not be graded. (1) David Ricardo assumed that the pattern of trade between nations depends upon comparative advantages enjoyed by their labor forces. Kenneth Arrow regarded learning by doing as a source of labor productivity. Feenstra and Hamilton showed that in their compositions of export to America, Korea and Taiwan two economies with similar history and initial technology and both practicing industrial policy - have evolved from near identical beginnings to a highly diverse present. Explain in brevity. (2) After World War II, Japanese officials improvised in their formulation of measures of industrial policy. Quite a few developing economies admired the economic success of Japan. They studied Japanese laws and regulations with great care, then followed them Japan....
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This note was uploaded on 04/29/2010 for the course ECON 4450 taught by Professor Wan during the Spring '09 term at Cornell University (Engineering School).
- Spring '09
- Comparative Advantage