Trade will tend to equalize the price of goods, but not the price of factors of production.
Correct Answer:
Verified
Q80: If one country has a higher level
Q81: Trade will tend to increase the cost
Q82: Workers in countries with higher productivity will
Q83: Suppose two countries have similar resources, capital,
Q84: A country should specialize in the production
Q86: Trade will tend to increase wages in
Q87: Consider an industry in which, for each
Q88: What determines a country's comparative advantage?
Q89: Trade between countries in goods from the
Q90: If the United States is relatively abundant
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents