When economists look at comparative advantage and test to see if the theory works in data, they find:

Ans: that the Hecksher-Ohlin mode somewhat hold sand Ricardian models holds in data.

Economics

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Comment on the following statement: "If the provision of public goods was left to private firms, the outcome would be more efficient than what occurs when the government provides them."

What will be an ideal response?

Economics

If the shopkeeper goes first and quotes a high price, what is the best response of the customer?

a. Accept the high price b. Yell at the store owner c. Walk away from the deal d. Swear off shopping forever

Economics