If Australia has more land per worker, and Belgium has more capital per worker,then if trade began between these two countries
A) the real income of landowners in Belgium would decline.
B) the real income of capital owners in Australia would increase.
C) the real income of labor in Australia would decline.
D) the real income of labor in Belgium would decline.
E) the real income of labor in both countries would decline.
A
Economics
You might also like to view...
Referring to Figure 19.2, the effect of a decrease in U.S. interest rates is represented by a movement from point
A) b to c. B) c to d. C) d to a. D) c to b.
Economics
"The decision to employ an additional unit of labor depends on whether the value of marginal product is greater than or smaller than the wage rate." Is the previous statement correct or incorrect?
What will be an ideal response?
Economics