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

question 10

Multiple Choice

In the specific factors model,a 5% increase in the price of food accompanied by a 1% increase in the price of cloth will cause ________ in the welfare of labor,________ in the welfare of the fixed factor in the production of food,and ________ in the welfare of the fixed factor in the production of cloth.


Definitions:

UCS

An acronym for "Unconditioned Stimulus," a stimulus that naturally and automatically triggers a response without prior learning.

CS

Common shorthand for "conditioned stimulus," a term from classical conditioning in psychology that refers to a previously neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.

UCR

Unconditioned Response, an automatic response to a stimulus that does not need to be learned.

CR

In conditioning, this stands for conditioned response, which is a learned response to a previously neutral stimulus that has become associated with an unconditioned stimulus.

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