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- What are the ‘Lessons’ of the Specific Factor Model? Demonstrate this lesson using formal modeling (either graphs or equations).The Heckscher-Ohlin model predicts that there will be no factor intensity reversals when moving from autarky to trade. True FalseExplain he differences between the Ohlin and Leontif theory on factor abundance
- Distinguish between Factor Price Equalization and the Stolper-Samuelson theory.Suppose we wish to know whether the effect of SAT on gpa differs by gender. We create an interaction term. SAT_Fem-SAT* Female. We include it in Model 5, with coefficients found below. .regress cumgpa female white fem_white sat sat_fem cumgpa | white | -.054214 fem_white | .2224758 female | .4524165 .2897172 .0633164 .1410783 .0001615 .000348 .001165 sat | sat_fem | .0006925 _cons | 1.310071 .1286267 .186 .122 Coef. Std. Err. .181 O.143 O.172 t P>|t| -1.56 0.119 -0.86 0.392 1.58 0.115 7.21 0.000 1.99 0.047 10.19 0.000 [95% Conf. Interval] -1.021347 -.1785511 -. 05 45656 .0008479 9.12e-06 1.057482 .1165136 Two non-white females originally took the SAT and got the same score. One of them then studied hard and improved her score by 100. What is the predicted difference in cumgpa between the two females? .0701231 .4995173 .0014821 .0013758 1.562661Consider an earnings function. In addition to the usual explanatory variables of experience and schooling, one can include variables for reflecting all of the following factors except: A) industry premiums. B) family background. C) occupational premiums. D) regional premiums. E) unobserved heterogeneity
- The endogeneity problem when estimating the effects of immigration on domestic wages is best described as A The possibility that the domestic wage distribution determines labour immigration, i.e. reverse causlity. B The possibility that the specification of the wage equation neglects a relevant variable, i.e. omitted variables. C The possibility that the wage equation assumes a wrong mathematical relationship between the variables, i.e. misspecification. D None of the above.How does path dependency provide an explanation for differentiation in earnings between men & women?What are pure specific factors model and mixed pecific factors model? How does the two differ?