1. [Multiple Choice Questions (4 points each, 32 points in total)] Please answer
ID: 1141631 • Letter: 1
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1. [Multiple Choice Questions (4 points each, 32 points in total)] Please answer following questions. 1.1 The Corn Laws were enforced in the Great Britain in 1815 in order to (a) protect manufacturers from foreign competition (b) protect farmers from foreign competition (c) provide cheap foreign manufacturing goods to Consider a Heckscher-Ohlin Model with two countries, Home and Foreign, and two production function factors, labor and capital. Resource endowment is as described in the table below. There are two goods, computers and where computers are capital-intensive while shoes are labor-intensive. Answer following questions. consumers (d) provide cheap foreign grains to c Capital Labor its 50 units 50 units ome 1.2 The Repeal of Corn Laws was 1846 when__was Forei 60 units British prime minister (a) Robert Peel (b) Robert Feenstra (c) Margaret Thatcher (d) Theresa May 1.5 Home exports and Foreign exports (a) shoes; computers (b) computers; shoes 1.6 A fter opening up to trade-increases at home and 1.3 According to the Specific-Factors Model of trade, oppose the Repeal of Corn Laws. (a) workers (mobile across industries) (b) owners of agricultural land (c) owners of manufacturing capital increases at foreign. (a) wages ;capital rental (b) wages (c) capital rental; wages (d) capital rental; capital rental 1.4 Cheryl Schonhardt-Bailey (1991) considers why the 1.7 The theoretical prediction in 1.6 is called.. Prime Minister you answered in 1.2 was able to abolish the Corn Laws despite the fact that the person was from the conservative political party. She argues that (a) most of supporters of the party were (a) the Heckscher-Ohlin Theorem (b) the Stoplper-Samuelson Theorem (c) the Rypzynski Theorerm (d) the Factor Price Insensitivity Theorem manufacturing capital owners 1.8 According to the Heckscher-Ohlin Model with two (b) agricultural land owners had diversified production factors, capital and labor, the U.S. shoulExplanation / Answer
1.1) The asnwer is A -) protect manufacturers from foreign competitiors.
because, The corn laws of 1815 was established as a tariff and other trade restrictions on the imported food and grain in the Great Britain in order to gain high price of grain to favor the domestic producers.
1.2) The asnwer is A -) RObert Peel.
1.3) please upload it again.it against chegg policy.
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