The factor-price equalization theorem indicates that laborers will end up earning the same wage rate in all countries only if the laborers are allowed to migrate between countries.

Answer the following statement true (T) or false (F)


False

Economics

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Refer to Figure 2-12. What is the opportunity cost of producing one gallon of honey in Tahiti?

A) 1 1/3 gallons of milk B) 0.9 gallons of milk C) 5/6 of a gallon of milk D) 1.2 gallons of milk

Economics

When actual real GDP is below natural real GDP, we say that

A) the output gap is positive. B) the output gap is negative. C) the output gap has been eliminated. D) the output gap cannot be calculated.

Economics

Income is the only factor used to measure a person's wealth.

A. True B. False C. Uncertain

Economics

Which of the following is an example of an institutional investor?

a. A large pension fund b. A person who buys stocks for his portfolio c. A company that invests millions in a new product d. A dealer who buys a painting expecting huge returns

Economics