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

question 39

Multiple Choice

In the specific factors model,a 5% decrease in the price of food accompanied by a 5% decrease in the price of cloth will cause in the welfare of labor,in the welfare of the fixed factor in the production of food,and in the welfare of the fixed factor in the production of cloth.


Definitions:

Performance

The act or process of carrying out an action or task, often evaluated in terms of effectiveness, skill, or efficiency.

Objectivity

The practice of maintaining neutrality and impartiality, avoiding bias and subjective judgments.

Transductively

Thinking or reasoning that makes connections between specific observations or events, often seen in the cognitive processes of young children.

Confuse

To cause someone to become bewildered or unable to understand.

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