Which of the Following Is Explained Well by the Specific-Factor

question 26

Multiple Choice

Which of the following is explained well by the specific-factor approach (Ricardo-Viner model) ?

• A)Steel workers and steel factory owners both lobby for tariffs on imported steel.
• B)Steel workers and agricultural workers join together to oppose tariffs.
• C)Owners of factories in a country with abundant fertile land promote free trade.
• D)Workers in an automobile factory promote free trade while the factory owners lobby for tariffs on imported cars.

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Definitions:

Algorithms

Step-by-step procedures or formulas for solving problems, often used in mathematics and computer science.

Mental Sets

The tendency to approach problems in a certain way due to past experiences, even when a different approach might be more productive.

Heuristics

Heuristics are cognitive shortcuts or rules of thumb that simplify decision making, often used when facing complex problems or incomplete information.

Algorithms

A set of rules or instructions typically used in computer programming and mathematics to perform calculations or problem-solving operations.