This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If one country's wage level is very high relative to the other's (the relative wage exceeding the ... (Read 68 times)

lidoalex

  • Hero Member
  • *****
  • Posts: 538
on: Jun 30, 2018
If one country's wage level is very high relative to the other's (the relative wage exceeding the relative productivity ratios), then if they both use the same currency
 
  A) neither country has a comparative advantage.
  B) only the low wage country has a comparative advantage.
  C) only the high wage country has a comparative advantage.
  D) consumers will still find trade worth while from their perspective.
  E) it is possible that both will enjoy the conventional gains from trade.

Question 2

In the model of monopolistic competition, if firms have ________ average cost curves, then opening trade will cause ________ firms to ________ the industry.
 
  A) different; less efficient; exit
  B) different; more efficient; enter
  C) symmetric; less efficient; exit
  D) symmetric; more efficient; enter
  E) symmetric; less efficient; enter


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

blazinlyss

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 30, 2018
Answer to Question 1

E

Answer to Question 2

A


lidoalex

  • Hero Member
  • *****
  • Posts: 538
Reply #2 on: Jun 30, 2018
Thank you :)


blazinlyss

  • Sr. Member
  • ****
  • Posts: 333
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

(a) With few ticks, moose retain a brown coat; (b) at high numbers of ticks, moose self-groom, destr (a) With few ticks, moose retain a brown coat; (b) at high numbers of ticks, moose self-groom, destr
Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu Blocked at every turn by congressional Republicans who hated him, President Obama turned to techniqu
During the Pullman strike in Chicago, workers protesting wage cuts did $340,000 in property damage, During the Pullman strike in Chicago, workers protesting wage cuts did $340,000 in property damage,
The relative influence of heredity and the environment in human behavior has fascinated and plagued ... The relative influence of heredity and the environment in human behavior has fascinated and plagued ...
Muscle structure seen at the EM level Muscle structure seen at the EM level
Relative Sizes of Dwarf Planets and Earth Relative Sizes of Dwarf Planets and Earth
Video: The Pressure Flow Model in a Plant

For a complete list of videos, visit our video library