A _______________ Occurs When the Relative Prices of Labor and Capital

question 60

Multiple Choice

A _______________ occurs when the relative prices of labor and capital change over time, which changes the relative mix of capital and labor in the production process of a commodity from being capital intensive to labor intensive (or vice versa)

• A) factor-intensity reversal
• B) demand bias for capital-intensive
• C) factor-intensity trade barriers
• D) none of the above

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Definitions:

Compound

A material created by the chemical combination of two or more elements bonded together.

Name

A term or set of terms by which a particular concept or object is identified.

Compound

A compound consisting of two or more elements combined in a precise ratio through chemical bonds.

Compound

A chemical substance made up of two or more elements chemically bonded together.