Nemedia and Aquilonia Have Just Started to Trade with Each

question 90

Multiple Choice

Nemedia and Aquilonia have just started to trade with each other.Nemedia exports goods produced with skilled labor and imports goods made with unskilled labor from Aquilonia.Over time,we would expect that the wages of skilled labor in Nemedia will

• A)rise, and the wages of unskilled labor in Nemedia will fall.
• B)fall, and the wages of unskilled labor in Nemedia will rise.
• C)rise, and the wages of unskilled labor in Nemedia will rise.
• D)fall, and the wages of unskilled labor in Nemedia will fall.

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Definitions:

Qualitative Model

A model that focuses on non-quantifiable aspects such as patterns, themes, or descriptions to understand phenomena or behaviors.

Long-Term Environmental Forecasts

Predictions about how the broader environment, including social, technological, economic, environmental, and political trends, will change over a lengthy period and affect an organization.

Delphi Technique

A method of group communication and forecasting in which participants complete questionnaires in multiple rounds to reach a consensus.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate a broad array of ideas or solutions.