If the wage rate in the agriculture sector is lower than
The manufacturing sector, then labor will migrate to the
Manufacturing sector.This will cause:
A) both wage and marginal product of labor in the manufacturing sector to decrease.
B) both wage and marginal product of labor in the agriculture sector to decrease.
C) the nation to import more goods.
D) There will be no effect on either sector.
Correct Answer:
Verified
Q28: If a nation begins to trade, it
Q29: The absence of trade is known as:
A)alitartky.
B)oligarchy.
C)autarky.
D)embargo.
Q30: Suppose that wages in the agricultural and
Manufacturing
Q31: If the price per bushel of wheat
Q32: As a nation increases its production of
Q34: Suppose that the Home country in the
Q35: As a nation increases its production of
Q36: Consider the following information for a hypothetical
Economy:
Q37: In the twosector (manufacturing and agriculture)
Specificfactors model,
Q38: If a nation begins to trade, it
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