Question: 7. Comparative advantage and import competition The Czech Republic joined the European Union (EU) in the early 2000 s and began to face intense import

7. Comparative advantage and import competition The Czech Republic joined the

7. Comparative advantage and import competition The Czech Republic joined the European Union (EU) in the early 2000 s and began to face intense import competition from other France. Suppose you have the following data on labor productivity for apparel and wine production in the Czech Republic apparel and wine production are measured in constant dollars reflecting the value of the products. Use the Ricardian model to analyze possible effects on each country's apparel and wine industries when answering the questions that follow The table suggests that France has an absolute advantage over the Czech Republic in and a comparative advantage in The table suggests that wages in France are in the Czech Republic. As a result of the Czech Republic's joining the EU, employment in the Czech Republic is likely to fall in True or False: The degree of openness of the Czech economy will influence the mix of jobs. True False 7. Comparative advantage and import competition The Czech Republic joined the European Union (EU) in the early 2000 s and began to face intense import competition from other France. Suppose you have the following data on labor productivity for apparel and wine production in the Czech Republic apparel and wine production are measured in constant dollars reflecting the value of the products. Use the Ricardian model to analyze possible effects on each country's apparel and wine industries when answering the questions that follow The table suggests that France has an absolute advantage over the Czech Republic in and a comparative advantage in The table suggests that wages in France are in the Czech Republic. As a result of the Czech Republic's joining the EU, employment in the Czech Republic is likely to fall in True or False: The degree of openness of the Czech economy will influence the mix of jobs. True False

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