When a Country's Labor Market Is in Equilibrium in the Specific

question 61

Multiple Choice

When a country's labor market is in equilibrium in the specific factors model, the wage rate

• A) will be higher in the sector where product price is lower.
• B) will be the same in both sectors.
• C) will be higher in the sector where product price is higher.
• D) will be higher in the export-competing sector.
• E) will be higher in the import-competing sector.

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Definitions:

Injured Party

An individual or entity that has suffered harm or damage due to another’s actions or negligence.

Tort Case

A legal case involving civil wrongs not arising out of contractual obligations.

Intent

In legal terms, it refers to the determination to perform a particular act or to act in a particular manner for a specific reason.

Consequences

Consequences refer to the outcomes, effects, or repercussions of actions or decisions, which may influence future behavior or circumstances.