To Study Labor Migration Using the Specific­factors

question 132

Multiple Choice

To study labor migration using the specific­factors
Model, we assume ________ and ________ cannot
Move within the domestic economy, but we allow
________ to move both domestically and
Internationally.

• A)land; capital; labor
• B)labor; land; capital
• C)land; loanable funds; capital
• D)labor; capital; land

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Definitions:

Trade

The exchange of goods and services between individuals or entities, typically in an attempt to benefit from differences in cost or value.

Trade-off

A situation that involves losing one quality, aspect, or amount of something in return for gaining another quality, aspect, or amount.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs, representing the trade-offs of producing one good over another.

Constant Rate

A fixed or unchanging value or pace at which a particular variable or condition progresses over time.