Multiple Choice
With constant labor costs (L) , the two countries, X and Y produce units of A and B as shown below.It is clear that with free trade, money wage rates in X will be:
A) 3 times those in Y.
B) more than 3 times those in Y.
C) between 2 and 3 times those in Y.
D) less than twice those in Y but how much less is unknown.
E) one-fourth those in Y.
Correct Answer:

Verified
Correct Answer:
Verified
Q31: Use the following to answer questions :<br>Figure
Q32: Protectionist tariff and quotas often:<br>A)do little to
Q33: Quotas are:<br>A)economically better than tariffs.<br>B)economically inferior to
Q34: By "terms of trade," we mean:<br>A)the treaty
Q35: Use the following to answer questions :<br>Figure
Q37: Use the following to answer questions :<br>Figure
Q38: Transportation costs are the costs of moving
Q39: The degree of openness of an economy
Q40: International economics involves many of the most
Q41: Use the following to answer questions :<br>Figure