Embracing a free trade regime for an advanced economy often implies that the country will produce less of some labor-intensive goods and more of some knowledge-intensive goods.

Question

Quizplus · Accepted Answer

Resources do not always shift quite easily from producing one good to another.A certain amount of friction is involved in cases where embracing a free trade regime for an advanced economy often implies that the country will produce less of some labor-intensive goods and more of some knowledge-intensive goods.

Embracing a Free Trade Regime for an Advanced Economy Often