Question: 1. Using data plot openness versus Industrial Pay Inequality (from UTIP-UNIDO) for Austalia? . 2. what isthe correlation (using excel) between openness and Industrial Pay
1. Using data plot openness versus Industrial Pay Inequality (from UTIP-UNIDO) for Austalia? .
2. what isthe correlation (using excel) between openness and Industrial Pay Inequality (from UTIP-UNIDO) for the nation. Report and interpret this relationship[Hint: Correlation can be calculated using the CORREL function: https://support.office.com/en-us/article/correl-function-995dcef7-0c0a-4bed-a3fb-239d7b68ca92. The Theil Index is used as a proxy for the ratio of skilled to unskilled wages in empirical studies].
3. Explain carefully i]whether your data agrees or disagrees with the Stolper-Samuelson Theorem. (Remember to accurately define the theorem and discuss how it applies to Australia)
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