ECON 5006: The statement refers to the Ricardian model of trade: International Trade Theory and Policy Assignment, UK

The assessment has five questions in total.

The first four questions are true, false or uncertain statements; where you need to provide an answer and justify this answer. You need to answer all these questions. 

The maximum word limit for these four questions is strictly 250 words each. 

These questions are worth 15 marks each.

The remaining question is an essay question. 

The maximum word limit for this question is strictly 1000 words. 

This question is worth 40 marks.

You are allowed to handwrite mathematical solutions and draw diagrams were relevant and insert these as scanned pictures in your answers. 

Everything else should be typed. Word documents and PDFs are both acceptable.

Question 1: The statement refers to the Ricardian model of trade. 

If countries export the good in which they have a comparative advantage, they will gain from trade.