Assume that a country produces only cloth and rice. Cloth production requires significant amounts of labor and capital, but relatively less land. Assume that rice production requires relatively less labor and capital, but relatively large amounts of land. If there is an increase in the country's endowments of capital and labor, the Rybczynski theorem predicts that:

Agood for which demand increases as income rises is and a good for which demand increases as income falls is

Which alternative accounting method allows farmers to record expenses and incomes in the year in which they sell their yield? gaap allows for the method, which permits farmers to subtract the expenses of producing the crop in the year in which they sell the yield and earn the revenue.

You are an employee of an u.s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u.s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u.s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?