In the Specific­factors Model, Suppose That a Country Has

question 111

Multiple Choice

In the specific­factors model, suppose that a country has
A comparative advantage in manufacturing output.Will
Workers be better or worse off following the opening of
Trade with other countries?

• A)Workers will be better off because the nominal wage increases.
• B)Workers will be better off because both nominal and real wages increase.
• C)Workers may be better off or worse off because the real wage in terms of the agricultural good rises and the
• Real wage in terms of the manufactured good falls.
• D)Workers may be better off or worse off because the real wage in terms of the agricultural good falls and the
• Real wage in terms of the manufactured good rises.

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Definitions:

Public Awareness

The extent to which the general public is informed about an issue, campaign, or brand.

Cash Cow

A business, investment, or product that consistently generates significant amounts of cash flow or profit, often requiring little maintenance.

Making Money

The process of earning a profit or income, typically through business activities, investments, or employment.

Spending Money

The act of using cash or credit to purchase goods or services, often reflecting the consumption habits of individuals or organizations.