In the specific factors model, which of the following will increase the quantity of labor used in food production?
A) an increase in the price of food relative to that of cloth
B) an increase in the price of cloth relative to that of food
C) a decrease in the price of labor
D) an equal percentage decrease in the price of food and cloth
E) an equal percentage increase in the price of food and cloth
A
Economics
You might also like to view...
Direct investment and security purchases are included in
A) current account items. B) capital account items. C) basic balance account items. D) unilateral transfers.
Economics
An unexpected rise in the Producer Price Index should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Economics