Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose there is a high wage rate in the U . S . and a low wage rate in Thailand. As a result, capital flows
Suppose there is a high wage rate in the US and a low wage rate in Thailand. As a result, capital flows from the US toward Thailand, and a there is a price advantage for Thailandproduced goods. This will likely cause the demand for labor to in Thailand and in the US
increase; increase
increase; decrease
decrease; increase
decrease; decrease
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started