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

question 48

Multiple Choice

In the specific factors model, a 5% increase in the price of food accompanied by a 5% increase in the price of cloth will cause wages to ________, the production of cloth to ________, and the production of food to ________.

• A) increase by more then 5%; increase; remain unchanged
• B) increase by 5%; remain unchanged; remain unchanged
• C) remain constant; decrease; decrease
• D) remain constant; increase; increase
• E) increase by less then 5%; decrease; increase

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Definitions:

Moral Development

Refers to the process through which individuals acquire and understand the distinctions between right and wrong, influencing their values, attitudes, and behaviors.

Personal Interest

Refers to an individual's hobbies, preferences, or passions that drive their personal satisfaction and motivation.

Moral Leaders

Individuals who guide and influence others based on ethical principles and values.

Influential

Having the power to affect the actions, behavior, or opinions of others.