Author Question: Refer to above figure. What is the revenue gain or loss for Europe as a whole (including taxpayers)? ... (Read 21 times)

maegan_martin · **on:** Jun 30, 2018

Refer to above figure. What is the revenue gain or loss for Europe as a whole (including taxpayers)?

What will be an ideal response?

Question 2

If Australia has relatively more land per worker, and Belgium has relatively more capital per worker, then if trade began between these two countries

A) the relative price of the land-intensive product would increase in Australia.
B) the relative price of the capital-intensive product would increase in Australia.
C) the relative price of the land-intensive product would increase in Belgium.
D) the relative price of the capital-intensive product would decrease in Belgium.
E) relative product prices would diverge between Australia and Belgium.