Classical model of trade-clothing fish cutlery?
italy 9hours/unit 3/unit 16h/unit
spain 10h/unit 2.5h/unit 15/unit
Explain what would happen in the of trade if the DFS model to relative wages and pattern of trade if there is uniform increase in productivity i in all industries in the foreign country. what will happen to real income in each of the two countries?
Answer:
Real income in both countries would rise.
The trade route would strengthen, and become more efficient.
The real income of both would rise.
It is a classic shift to the right of the production possibilities curve, which is the only true way to increase the productivity of any economy.
More Questions and Answers:
what evironment factors impact the international management?
what is the use of share markets?
Can anyone give me examples for positive and normative economics?
How is Canada affected by the american deficit?
How do crime and poverty relate?
What does these words mean?
econ question?
how much of Europes population was serfs?
Did cokacola at one point in time containe cokaine?
spain 10h/unit 2.5h/unit 15/unit
Explain what would happen in the of trade if the DFS model to relative wages and pattern of trade if there is uniform increase in productivity i in all industries in the foreign country. what will happen to real income in each of the two countries?
Answer:
Real income in both countries would rise.
The trade route would strengthen, and become more efficient.
The real income of both would rise.
It is a classic shift to the right of the production possibilities curve, which is the only true way to increase the productivity of any economy.
More Questions and Answers: