When a Country's Labor Market Is in Equilibrium in the Specific

question 34

Multiple Choice

When a country's labor market is in equilibrium in the specific factors model,the wage rate

• A)will be higher in the sector where product price is lower.
• B)will be higher in the sector where product price is higher.
• C)will be the same in both sectors.
• D)will be higher in the export- competing sector.
• E)will be higher in the import- competing sector.

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Definitions:

Biocolonialism

The exploitation of indigenous knowledge and genetic resources by more technologically advanced societies without just compensation or acknowledgement.

Indigenous Areas

Regions predominantly inhabited or utilized by indigenous peoples, recognized for their cultural, historical, or ecological significance and often associated with specific rights and protections.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs, often focusing on economic, social, and environmental sustainability.

Material Wealth

The accumulation of physical objects, money, and assets that have value in a society.