Author Question: The deteriorating-terms-of-trade-argument is based on an assumption that the value of ____ will fall ... (Read 39 times)

jerry coleman · **on:** Jun 30, 2018

The deteriorating-terms-of-trade-argument is based on an assumption that the value of ____ will fall over time.
a. labor inputs
b. capital inputs
c. technology
d. manufactured goods
e. primary products

Question 2

A tax would not impose a welfare cost only if:
a. the quantity exchanged did not change as a result.
b. supply was perfectly elastic.
c. supply was unit elastic.
d. the demand curve was perfectly elastic.