Question: The table below shows the labor requirements in two different products (shoes and toys) in two different countries (Vietnam and Indonesia). Shoes Toys Vietnam 12

The table below shows the labor requirements in two different products (shoes and toys) in two different countries (Vietnam and Indonesia). Shoes Toys

Vietnam 12 6 Indonesia 27 9 Autarky relative price of shoes O

2 in Vietnam, and 3 in Indonesia O 3 in Vietnam, and

The table below shows the labor requirements in two different products (shoes and toys) in two different countries (Vietnam and Indonesia). Shoes Toys Vietnam 12 6 Indonesia 27 9 Autarky relative price of shoes O 2 in Vietnam, and 3 in Indonesia O 3 in Vietnam, and 2 in Indonesia O 1/2 in Vietnam, and 1/3 in Indonesia O 1/3 in Vietnam, and 1/2 in Indonesia Question 6 1 pts The table below shows the labor requirements in two different products (shoes and toys) in two different countries (Vietnam and Indonesia). Shoes Toys Vietnam 12 6 Indonesia 27 9 World relative price of toys will be O between 1/2 and 3 O between 1/2 and 2 O smaller than 1/2 O between 1/3 and 1/2 O between 1/2 and 2 O between 2 and 3 O larger than 3D Question 7 1 pts The table below shows labor requirements in two different products (shoes and toys) in two different countries (Vietnam and Indonesia). Shoes Toys Vietnam 12 6 Indonesia 27 9 In the trade equilibrium, the real wage, in terms of toys, for Vietnamese workers is O 1/6 0 9 O between 27 and 54 O between 54 and 81

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