QUESTION 19 As a nation begins to expart, its own relative price of exported goods will and as it imports other goods, t

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Question 19 As A Nation Begins To Expart Its Own Relative Price Of Exported Goods Will And As It Imports Other Goods T 1 (25.91 KiB) Viewed 12 times

QUESTION 19 As a nation begins to expart, its own relative price of exported goods will and as it imports other goods, the relative price of those will compared to no trade, its standard of living (as measured by indifference curves will be with trade. fall rise: lower rise fel: lower rise fat: higher QUESTION 20 in the specific factors model, an increase in the price of the manufactured good (holding other things constant) will cause: an increase in the nominal wage in the manufacturing sector. capital to move from the agricultural to the manufacturing sector. land to move from manufacturing to the agricultural sector. a decrease in the nominal wage in the agricultural sector. QUESTION 21 in the specific factors model when fewer workers are employed in the sector that competes with imports, the marginal product of the factor that is specific to the sector decreases increases remains unchanged may decrease or increase depending on the quantity of imports QUESTION 22 According to Ricardian theory, comparative advantage depends on relative differences in labor productivity True