Trade Will Tend to Equalize Factor Prices

question 197

True/False

Trade will tend to equalize factor prices.

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Definitions:

Space

The physically boundless three-dimensional extent in which objects and events occur and have relative position and direction.

Time

A continuous sequence in which events occur in succession from the past through the present to the future.

Effortful

Requiring considerable mental or physical effort.

Automatic

Automatic processes are cognitive functions that occur with little to no conscious awareness or effort, often enabling routine tasks or responses.