The figure given below represents the effects in the labor markets due to migration. Here the world has been divided into a high-income "North" (left panel) and a low-income "South" (right panel). Dn and Sn are the labor demand and the labor supply curves in North. Ds and (Sr + Smig) are the labor demand and pre-migration labor supply curves in South. Sr is the post-migration labor supply curve in South. The value c is the cost of migrating.After migration of the workers, the workers in North earn ________ per hour and South workers earn ________ per hour.

France is capital abundant and Italy is labor abundant. Shoes are labor intensive and wheat is capital intensive

Draw diagrams to illustrate the pre- and post-trade equilibria for each of the two countries including the production points, the consumption points, the international price, and the volumes of exports and imports for each. Be sure to identify which country has comparative advantage in which good. Which factors gain and which lose when trade is opened between the two countries? Explain carefully.

During World War II (1941–45), the market coordinated what the government commanded in terms of production

Indicate whether the statement is true or false