Multiple Choice
Suppose that the home country in the two-sector (manufacturing and agriculture) specific-factors model has a comparative advantage in manufactured output. Which specific factor(s) will gain the most after trade occurs?
A) capital
B) land
C) labor
D) land and capital
Correct Answer:
Verified
Correct Answer:
Verified
Q62: In the specific-factors model, suppose that a
Q63: What is the idea behind fair-trade coffee?<br>A)
Q64: When the demand for products competing with
Q65: (Table: Sales and Payments) Suppose that the
Q66: From 1807 to 1809, a trade embargo
Q68: The term <i>real wages</i> refers to:<br>A) a
Q69: In the two-sector (manufacturing and agriculture) specific-factors
Q70: Economists believe that layoffs and wage declines
Q71: (Table: Home and Foreign Prices for Manufacturing
Q72: (Table: Revenues and Costs for Two Industries)