Consider the following data on some of Japans exports and imports in 2012, measured in billions of
Question:
Consider the following data on some of Japan’s exports and imports in 2012, measured in billions of U.S. dollars:
For which of these products do Japan’s exports and imports appear to be consistent with the predictions of the Heckscher–Ohlin theory? Which appear to be inconsistent?
Transcribed Image Text:
Product Food (0) Japanese Exports Japanese Imports 3.7 64.2 Crude petroleum (333) Metal ores (28) Pharmaceuticals (54) Soaps and cleaners (554) 6.5 39.7 0.0 153.1 4.0 24.3 1.2 0.8 Iron and steel (67) 43.8 10.1 Automobiles (7812) 97.3 10.9 Aircraft (792) 3.9 7.3 Clothing and accessories (84) 0.6 33.9 Shoes and other footwear (85) 0.1 5.9 Medical instruments (872) 2.8 6.0
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According to Figure 53 Japan is relatively abundant in physical capital highlyskilled labor and medi...View the full answer
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