Note: Same information for questions 5-19, except where noted. The world is composed of two countries, Country A and Country B. They use labor to produce two goods, Coats and Umbrellas. All of the assumptions of the Ricardian Model hold. The following table shows the unit labor inputs to make each good in each country. One unit of labor is one hour of labor. Country A has 6000 units of labor and country B has 10000 units of labor. The two countries are engaged in free and costless trade and both countries gain with trade, except as noted.     Country A Country B Coats       1      3 Umbrellas       4      24   Use the following information to answer questions 14-15 only. Assume that country B has comparative advantage in Coats only and absolute advantage in Umbrellas only. Also suppose that the countries fully specialize in the production of one good, and that the world price of umbrellas is PU=120. (Note: Having separate information is to your advantage, as it decouples the answer here from other answers that you may have gotten wrong. However, don’t use this information to answer any other questions, as the information here is not necessarily correct for other questions!) Enter the wage in Country A, or enter 0 if there is not enough information to answer the question.

Note: Same information for questions 20-25. The world is made of two countries. Home has 8000 workers and Foreign has 2000 workers. One unit of labor is one worker working for a week. The following figure represents the marginal product of labor of the home country (MPL, measured from the left) and the marginal product of labor of the foreign country (MP*L, measured from the right). Note: it’s really important that you get the initial situation (before there is any migration) correctly. If you get it wrong all of your answers are likely to be wrong. Now migration becomes free between the two countries. Use this to answer questions 22-25. What is the final weekly wage of all workers, once emigration ends and the countries are in equilibrium? Enter a whole number.

Note: Same information for questions 20-25. The world is made of two countries. Home has 8000 workers and Foreign has 2000 workers. One unit of labor is one worker working for a week. The following figure represents the marginal product of labor of the home country (MPL, measured from the left) and the marginal product of labor of the foreign country (MP*L, measured from the right). Note: it’s really important that you get the initial situation (before there is any migration) correctly. If you get it wrong all of your answers are likely to be wrong. Migration between the two countries is strictly forbidden. Use this to answer questions 20-21. How much is the weekly real wage in Home? Enter a whole number.

Note: Same information for questions 5-19, except where noted. The world is composed of two countries, Country A and Country B. They use labor to produce two goods, Coats and Umbrellas. All of the assumptions of the Ricardian Model hold. The following table shows the unit labor inputs to make each good in each country. One unit of labor is one hour of labor. Country A has 6000 units of labor and country B has 10000 units of labor. The two countries are engaged in free and costless trade and both countries gain with trade, except as noted.     Country A Country B Coats       1      3 Umbrellas       4      24   The following graph represents the relative supply curve of umbrellas relative to coats and the relative demand of umbrellas relative to coats, for the two countries. It is not necessarily drawn in scale, it is for illustration only. Don’t use its scale to answer any questions. Use it as an illustration to answer questions 16-19 only. Notation: QUA means country A’s supply or demand of Umbrellas, and analogously for the other symbols. (Note: Having separate information is to your advantage, as it decouples the answer here from other answers that you may have gotten wrong. However, don’t use this information to answer any other questions, as the information here is not necessarily correct for other questions!) Enter the number Y in the figure above, or enter 0 if not enough information is provided. Round to the nearest 0.01.

Note: Same information for questions 1-4. Two countries, A and B, share a border. Country A has five states: A0, A1, A2, A3, and A4. Country B has four states B1, B2, B3, and B4. The states were numbered in such a way that: Equally numbered states have the same GDP (GDP of state A1 = GDP of state B1, etc.). The distance between A0 and equally numbered states is about the same (the distance between A0 and A1 is about the same as the distance between A0 and B1, etc.). The following table shows distance in miles and total trade in millions of dollars, between A0 and the different states of each country. Use the gravity model to answer this question:  Tradeij= A (GDPi GDPj) / Distanceij, where Tradeij is the trade volume between states i and j, A is a constant, GDPi is the GDP of state i, and Distanceij is the distance between state i and state j.   Country A States Distance between Country A States and state A0 Trade between Country A States and state A0 Country B States Distance between Country B States and state A0 Trade between Country B States and state A0 A1 350 1388 B1 345 678 A2 350 1022 B2 345 481 A3 700   B3 673   A4 1567 544 B4 1593 233   Choose the right combination of statements to answer questions 3 and 4: I. The larger an economy is, the more goods it has to export, and the more income it has to import goods. II. The larger the distance between two economies, the higher the trade costs between them. III. A border between two economies may introduce additional trade costs.   Which combination of the statements above might help in explaining that trade between A0 and B1 is much smaller than trade between A0 and A1?

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________ are the routine conventions of everyday life.

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Some believe the Cold War was simply about nuclear proliferation, but in many respects, it was a war between ideas of economic and political governance.

Containerization has revolutionized the transportation business by