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

question 30

Multiple Choice

In the specific factors model,a 5% increase in the price of food accompanied by a 10% increase 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.

• A) an ambiguous change; a decrease; an increase
• B) an ambiguous change; an ambiguous change; an ambiguous change
• C) a decrease; an ambiguous change; an ambiguous change
• D) an increase; a decrease; an increase
• E) an ambiguous change; an increase; a decrease

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Definitions:

Teleconference

A meeting of people in different locations using telecommunications devices such as telephones or computer networks to communicate.

Three-Way Calling

A feature offered by telephone service providers that allows three parties to speak to each other simultaneously on one phone call.

Face-to-Face Meetings

In-person gatherings where participants interact directly, allowing for immediate feedback and non-verbal communication.

Troublemakers

Individuals who cause conflicts or problems within a group or organization.