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hw3 - DueDate:Mar.14,2011 InternationalTrade Assignment3...

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International Trade Spring 2011 ECON4633-001: Due Date: Mar. 14, 2011 Assignment 3 Name: __________________________ Date: _____________ Part I 1. A long-run model of trade basic to the determination of how mobile factors of production affect national welfare and the returns to the factors is known as: A) the specific-factors model. B) the Ricardian model. C) the Chicago model of trade. D) the Heckscher-Ohlin model. 2. The Hecksher-Ohlin model of international trade uses _____ and ______ to explain trade patterns. A) comparative; absolute advantage B) factor abundance; factor intensity C) factor availability; factor usability D) tariffs; quotas 3. The Heckscher-Ohlin model simplifies the analysis by assuming: 4. In a capital-intensive industry, the capital/labor ratio will: Page 1
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5. The Heckscher-Ohlin model assumes that factors of production can move freely ______ but cannot move _______.
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