Argentina Chile Shirts 8 shirts 10 shirts Bags 6 bags 4 bags The table above shows output per hour worked in Argentina and Chile. Ricardian model predicts that the world price of a shirt should be between bags. O A. 1.3 and 2.5 OB. 0.4 and 0.75 O C. 0.75 and 1.3 O D. 0.4 and 2.5 The demand and supply of labour are estimated by W = 28 -0.001Lp and W = 16 +0.0005Ls. where W is the hourly wage rate and L is labour. If the government imposes a payroll tax of $3 per hour on the employer, the new wage rate employees receive would be: O A. $17 O B. $23 O C. $19 O D. $22 Previous page 24 25 26 27 28 Next page