Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer pleae Consider an economy described by a specific factors model with an Agricultural and a Manufacturing Sector. The country is open to trade. All

Answer pleae

image text in transcribed
Consider an economy described by a specific factors model with an Agricultural and a Manufacturing Sector. The country is open to trade. All else equal, which of the following would be consequences of a sudden accumulation of specific capital in the manufacturing sector? (select all that apply for credit) Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The real wage of workers measured in terms of manufactures will fall as capital replaces workers in that sector b The real wage in the economy will increase, measured in terms of either good c The number of workers employed in manufacturing will increase d The real return to land specific to the agricultural sector will fall

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Moral Controversies In American Politics

Authors: Raymond Tatalovich, Warren Tatalovich

4th Edition

1317464427, 9781317464426

More Books

Students also viewed these Economics questions