As workforces become more educated in countries with comparative advantage in labor-intensive products, the comparative advantage for the production of those labor-intensive goods shifts:
A. toward other countries with less cheap labor relative to the other factors of production.
B. away from countries with more cheap labor relative to other factors of production.
C. toward other countries with more cheap labor relative to the other factors of production.
D. toward countries with more capital for production.
C. toward other countries with more cheap labor relative to the other factors of production.
You might also like to view...
If a monopolistically competitive firm is producing 50 units of output where marginal cost equals marginal revenue, total cost is $1,674 and total revenue is $2,000, its average profit is
A) $326. B) $40. C) $6.52. D) impossible to determine without additional information.
Assets with zero covariance have yields that are
A) inversely related. B) positively correlated. C) negatively correlated. D) independent.