Which of the following factors is most likely to result in a decline in the relative price of the primary products in the world market?
A) Increase in imports of primary products
B) Development of synthetic substitutes for primary products
C) Rapid increase in world population
D) Increase in the prices of inputs used in producing primary products
Correct Answer:
Verified
Q1: _ suggests that with an increase in
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Q4: Which of the following is indicated by
Q5: Countries having comparative advantages based on land
Q6: Which of the following is true of
Q7: Identify the correct statement.
A)In some of the
Q8: For which of the following goods does
Q9: An example of policies designed to protect
Q10: Developing countries tend to have comparative advantages
Q11: The long-run trends of relative prices of
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