In the Specific Factors Model, a 5% Increase in the Price

question 26

Multiple Choice

In the specific factors model, a 5% increase in the price of food accompanied by a 0% increase in the price of cloth will cause wages to ________, the production of cloth to ________, and the production of food to ________.

• A) remain constant; decrease; decrease
• B) increase by less then 5%; decrease; increase
• C) remain constant; increase; increase
• D) increase by more then 5%; increase; remain unchanged
• E) increase by 5%; remain unchanged; remain unchanged

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Definitions:

C. Saunders

Cicely Saunders was a key figure in the hospice movement, promoting palliative care for terminally ill patients.

Technological Imperative

A concept urging that if we have the technological capability to do something, we should do it. Action in the form of the use of an available technology is always preferable to inaction.

Western Societies

Cultures and communities typically found in Western Europe and North America, characterized by democratic political systems, capitalist economies, and specific socio-cultural norms.

Bureaucratized

The process of managing an organization by adhering strictly to fixed rules and formalities.