Answer to Question 1
This statement is typically true . . . but. Under a strict and limited set of assumptions, such as the original Heckscher-Ohlin model which excludes country specific technologies; non-homothetic tastes; factor intensity reversals; large country differences in (relative) factor abundances, more factors than goods, and an equilibrium solution within the cone of specialization; then it may be demonstrated that internal consistency demands that the above stated sentence is true. However, the minute one relaxes any of the above listed assumptions one may easily identify solutions, which contradict the factor price equalization theorem.
Answer to Question 2
(1 ) Commercial banks
(2 ) Corporations
(3 ) Non-bank financial institutions, such as insurance companies, pension funds, and mutual funds. This includes investment banks, which specialize in underwriting sales of stocks and bonds by corporations and in some cases governments.
(4 ) Central banks and other government agencies
Answer to Question 3
The balance of payments would automatically regulate itself to ensure an adequate supply of money in every country.
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