Assume the Standard Trade Model with Two Countries (Alpha and Beta)

question 10

Multiple Choice

Assume the standard trade model with two countries (Alpha and Beta) , two goods (food and drink) , and two factors of production (land and labor) . Further assume that Alpha is relatively labor-abundant and drink is relatively labor-intensive. If the countries engage in free trade, Alpha will:

• A)export both food and drink.
• B)export drink and import food.
• C)import both goods.
• D)export food and import drink.

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Definitions:

Wisdom

The quality of having experience, knowledge, and good judgment.

Class Bias

A tendency to prejudice or differentiate treatment based on social class or economic status.

Gender Bias

Prejudice or discrimination based on a person's gender or sex, often resulting in unfair treatment.

Male Perspective

This refers to viewpoints, experiences, or considerations specifically associated with male individuals or masculinity.