Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The coup in Myanmar resulted in a cut-off of trade with many countries. For this question assume it is for all countries. Myanmar has relatively

The coup in Myanmar resulted in a cut-off of trade with many countries. For this question assume it is for all countries. Myanmar has relatively abundant less skilled labor and natural resources and relatively scarce skilled labor and capital. What do you expect to happen to the relative returns in Myanmar?

Group of answer choices- can have 1 or more answers

a) Natural resource relative prices will be unchanged. The relative wage to unskilled labor will rise, the relative wage for skilled labor will fall and the relative return to capital will rise

b) The relative price of natural resources will rise, both kinds of labor and capital will experience a relative loss in value

c) Natural resource relative prices will fall as will the relative wage to unskilled labor, the relative wage for skilled labor will rise and the relative return to capital will rise

d) Natural resource relative prices will fall, the relative wage for unskilled labor will fall, the relative return to capital will fall and the relative returns to skilled labor will rise

e) Natural resource relative prices will fall as will the relative wages of skilled and unskilled labor. The return to capital will rise

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

French Banking And Entrepreneurialism In China And Hong Kong From The 1850s To 1980s

Authors: Hubert Bonin

1st Edition

0429560095, 9780429560095

More Books

Students also viewed these Economics questions

Question

What can he do to increase their confi dence?

Answered: 1 week ago

Question

Differentiate 3sin(9x+2x)

Answered: 1 week ago

Question

Compute the derivative f(x)=(x-a)(x-b)

Answered: 1 week ago