Answer to Question #255090 in Economics for THANUSH

Question

ANSWER THE FOLLOWING QUESTIONS

1. What is the main product category or sector which is the most important one in recent years, as compared to 70 years back? Explain!

2. With the use of mathematical equation, explain gravity model.

3. What is the relationship of the following variables with trade? Explain!

a. distance

b. income

4. Identify and explain 5 determinants of trade, that you know.

5. Is there any empirical evidence to support the prediction of gravity model? Explain

Answer 1

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