ECON231_Assignment3_F11

ECON231_Assignment3_F11 - ECON 231 Section 2 Introduction...

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Page 1 of 2 Pages ECON 231 – Section 2 Introduction to International Economics Instructor: Sharif F. Khan Department of Economics University of Waterloo Fall 2011 Assignment 3 (Optional) Total Marks: 50 marks Part B Short Questions 40 Marks Each question is worth 5 marks. B1. In the United States where land is cheap, the ratio of land to labor used in cattle raising is higher than that of land used in wheat growing. But in more crowded countries, where land is expensive and labor is cheap, it is common to raise cows by using less land and more labor than Americans use to grow wheat. Can we still say that raising cattle is land- intensive compared with farming wheat? Why or why not? B2. “The world’s poorest countries cannot find anything to export. There is no resource that is abundant – certainly not capital or land, and in small poor nations not even labor is abundant.” Discuss. B3.
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This note was uploaded on 12/02/2011 for the course ECON 231 taught by Professor Rus during the Fall '08 term at Waterloo.

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ECON231_Assignment3_F11 - ECON 231 Section 2 Introduction...

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