1. Which of the following does NOT explain why a location quotient larger than one generally indicates that an industry is producing for export from a particular region? (1) A location quotient larger than one indicates that the region in question has a larger fraction of its labour force employed in a particular industry than does the nation as a whole. (2) A location quotient larger than one indicates that the region is producing more of the product than it needs for its own consumption. (3) A location quotient larger than one assumes that consumption patterns and labour productivity are the same in every region. (4) A location quotient larger than one assumes that all the region's demand for the product has been satisfied and the region is now producing for export. .. The marginal product of labour changes as we move along the production function. Assuming that the marginal product of labour is decreasing as we move to the right of the curve, what does the slope of the line look like when the marginal product of labour equals zero? (1) The slope of the line is approximately 1. (2) The slope of the line is horizontal. (3) The slope of the line is vertical. (4) The slope of the line cannot be determined without more information. 3. Suppose that there are two regions, Wow and Pow. The firms in each region are identical and there is a total of X identical workers in the country that must be split between the two regions. Workers decide where they want to live based only on wages (there is no unemployment), At what point will the country be in equilibrium? A. When the labour demand curve for Wow crosses the labour demand curve for Pow B. When the wage in Wow is equal to the wage in Pow C. Where the fraction of workers (Workers in Wow/Workers in Pow) is equal to the fraction of wages (Wages in Wow/Wages in Pow) (1) Only Statement A is true. (2) Only Statement B is true. (3) Only Statements A and B are true. (4) All of the above statements are true