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Describe the effects of trade on the factor distribution of income
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- In the specific factor model introducing trade A induces a Pareto improvement through adeqaute redistribution of consumption. B lowers the welfare workers. C increases the welfare of factor owners. D induces a Pareto improvement for the economyDescribe any five important differences between labour market and the goods marketIf a market price of a factor production is lower than equilibrium price, how can be this situation characterized?
- International trade leads to complete equalization of factor prices. DiscussExplain the theory of factor mobility. Consider this theory, and create a trade agreement between two to four countries that does not already exist. Explain why this agreement would be beneficial to each country and how the theory of factor mobility connects to this trade agreement.8.1 # 3: SHOW ALL WORK PLEASE. THANK YOU
- he AGOA is a country U trade preference program that provides eligible sub-Saharan African countries with duty-free access to the country U market for a wide range of products. This trade pact has several macroeconomic factors that are impacted, including: What does U stand for?The table below lists the labor requirements for producing USB cables and AC adapters. Labor Hours Needed to Make a(n) USB cable AC adapter West Virginia Kentucky 15 Which of the following are true? O West Virginia has an absolute advantage in producing USB cables O West Virginia has an absolute advantage in producing AC adapters O West Virginia has a comparative advantage in producing USB cables O West Virginia has a comparative advantage in producing AC adaptersThe method of trade to use fixed quantities of goods for import is called.
- Factor Price Equalization means that A. the demand for the factor that is abundant in a country will be higher so that the price of this factor equals across countries B. for countries to trade freely, factors of production need to be taxed accordingly so that their prices are equal across countries C. the supply of the factor that is abundant in a country will be higher so that the price of this factor equals across countries D. free trade makes the cost of identical factors in different countries to be more similar than they were in autarky This question has more than one ( 1 ) answersWhat do you mean by labor surplus in Africa?Considering the level of the US minimum wage is should be the minimum wage in the US is Positive; normative Normative; positive economics; considering what economics.