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As Relative Prices in Various Industries Change Due to Trade

question 19

Multiple Choice

As relative prices in various industries change due to trade, the marginal product of the mobile resources used in the expanding industry __________, and the marginal product of the mobile resources used in the contracting industry __________.


Definitions:

New Left Movement

A political movement that emerged in the 1960s, focusing on civil rights, anti-imperialism, and opposition to traditional capitalist values.

Participatory Democracy

A model of democracy in which citizens have the power to decide directly on policy and politicians are responsible for implementing those policy decisions.

Barry Goldwater

An American politician and a senator from Arizona who was a major figure in the Conservative movement and the Republican presidential nominee in 1964.

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