Ricardian Model In 1975, wage levels in South Korea were roughly 5% of those in the United States It

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Ricardian Model

In 1975, wage levels in South Korea were roughly 5% of those in the United States It is obvious that if the United States had allowed Korean goods to be freely imported into the United States at that time, this would have caused devastation to the standard of living in the United States because no producer in this country could possibly compete with such low wages 

Discuss this assertion in the context of the Ricardian model of comparative advantage

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