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for years, the world used a small nation in central america as a place to assemble goods and benefit from inexpensive labor. the nation decided to shift its base from simple assembly to a full-fledged manufacture of components and finished goods. it introduced a policy that stated 65 percent of the value of a product must be produced locally. this is an example of a(n) a. ad valorem portion requirement. b. domestic sales requirement. c. local content requirement. d. international allocation requirement. e. specific quota requirement.

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Local content requirements are the guidelines that dictate that a company must obtain a specific percentage of the final cost of a good from domestic enterprises by purchasing from local businesses or occasionally by producing the good locally.

Assume your model has two countries, two commodities, and two inputs. Let's assume that the United States and the rest of the world are the two countries in this model, and that steel and wheat are the two items that are produced in each nation. Land and capital are the two production variables that any nation uses to produce its goods. The Heckscher-Ohlin model would suggest that the United States will experience a capital-intensive steel production process if capital is available in the country.

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