In the specific factors model,a 5% increase in the price of food accompanied by a 10% increase in the price of cloth will cause in the welfare of labor,in the welfare of the fixed factor in the production of food,and in the welfare of the fixed factor in the production of cloth.
A) an ambiguous change; an increase; a decrease
B) an increase; a decrease; an increase
C) a decrease; an ambiguous change; an ambiguous change
D) an ambiguous change; an ambiguous change; an ambiguous change
E) an ambiguous change; a decrease; an increase
Correct Answer:
Verified
Q23: In the specific factors model,which of the
Q24: Those who will lose from free trade
Q25: In the specific factors model,a 5% decrease
Q26: Under perfect competition,the equilibrium price of labor
Q27: In the specific factors model,a 5% increase
Q29: The slope of a country's production possibility
Q30: In the four- quadrant diagram of the
Q31: In the specific factors model,a 5% increase
Q32: A country's budget constraint states that
A)a country
Q33: When a country's labor market is in
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