QUESTION 4 According to the study by Islam on revealed comparative advantage (RCA), which of the following is true of the U.S. agricultural trade? a. The U.S. has RCA in no agricultural products b. The U.S. has RCA in majority of agricultural products c. The U.S. has RCA in all agricultural products d. The U.S. has no trade in any agricultural products QUESTION 5 Hourly wage rate in Singapore, Hong Kong, and Japan has gradually moved closer to that of the U.S. over time as a result of more c trade followed by these nations. This phenomenon can be explained by which of the following trade models? a. Product Life-cycle trade model b. Intra-industry trade model c. H-O trade model d. Only (a) and (b) above e. None of the above QUESTION 6 A country exports some varieties of good X worth $100 billion per year and at the same time the country imports some differe of the same good X worth $100 billion per year. The Grubel-Lloyd intra-industry trade index (T-index) for this good is one. True False fubmit to save and submit. Click Save All Answers to save all answers.