Multiple Choice
As a nation begins to export, its own relative price of exported goods will ______, and as it imports other goods, the relative price of those will ______ , thus ___________ its standard of living.
A) fall; rise; lowering
B) rise; fall; lowering
C) rise; fall; raising
D) fall; rise; raising
Correct Answer:
Verified
Correct Answer:
Verified
Q2: In the two-sector (manufacturing and agriculture) specific-factors
Q3: As a nation opens up to free
Q4: A microeconomic analysis shows that in a
Q5: As a nation opens trade, the relative
Q6: Suppose that due to a drought, the
Q7: (Table: An Economy Before and After Trade)
Q8: Suppose that the home country in the
Q9: Why do returns to specific factors change
Q10: As a nation increases its production of
Q11: Suppose that wages in the agricultural and