If Country A is labor-abundant and capital-scarce, Country B is labor-scarce and capital-a
A、Country A would export Good X.
B、Country B would import Good Y
C、Country A would import Good X.
D、Country B would import both Good X and Good Y.
A、Country A would export Good X.
B、Country B would import Good Y
C、Country A would import Good X.
D、Country B would import both Good X and Good Y.
A、China will export land-intensive goods like wheat and import labor-intensive goods like clothing.
B、China will shift resources into the production of agricultural goods and away from manufactured goods.
C、China will shift resources out of the production of agricultural goods and into the production of labor-intensive goods.
D、China will export capital-intensive goods like automobiles and import labor-intensive goods like clothing.
A、Product prices as well as the prices of individual factors of production between two countries.
B、Product prices between two countries but not the prices of individual factors of production.
C、Product prices between two countries and factor prices within each country but not between countries.
D、Product prices and factor prices within each country but not between countries.
A、monopolistic competition
B、biased growth
C、economies of scale
D、product differentiation
A、Firm growth leads to more specialization by workers.
B、Industry growth gives rise to better input markets.
C、Industry growth leads to a greater diffusion of knowledge among firms.
D、Firm growth drives up prices of some of the firm’s inputs.
A、External scale economies.
B、Monopolistic competition.
C、Intra-industry trade.
D、The demand for variety
A、increases; elastic
B、decreases; elastic
C、increases; inelastic
D、decreases; inelastic
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