The specificfactors model predicts that after immigration, the equilibrium wage in both industries in the destination nation:
a. rises.
b. falls.
c. remains the same.
d. cannot be determined with the information given
Ans: b. falls.
Economics
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If the production possibilities frontier is a straight line,
a. its slope will equal -1 b. resources must not be used efficiently c. resources must be unemployed d. society must not be using the latest technology e. resources must be equally adaptable at producing either product
Economics
The horizontal intercept of the budget line is:
A. M/PY. B. -PX/PY. C. M/PX. D. PYY.
Economics