Examlex

Solved

The Relative Price of a Unit of Cloth in the Small

question 50

Multiple Choice

The relative price of a unit of cloth in the small isolated country of Moribundia is 5 units of food. When the central city, Mudhole, puts in an airstrip, the country is able to engage in trade. If the relative price of cloth in the outside world is 8 units of food, then Moribundia will export ________ and ________ factors used in the production of ________ will benefit.


Definitions:

Experimenter

A person who conducts scientific tests and trials to explore hypotheses and examine the effects of variables.

Manipulated

Altered or controlled in a skillful or sometimes deceitful manner, often to achieve a specific outcome.

Unified Dynamic Structure

A system or organization in which different components work together in a coordinated and dynamic manner to achieve common goals.

Assumption

A belief or statement taken for granted without proof, often used as a starting point for further reasoning or argument.

Related Questions